Gold Prices Rise Amid Easing Market Pressures and Geopolitical Concerns
Gold prices have gained upward momentum as global market pressures ease and geopolitical tensions in the Middle East escalate. On August 7, 2024, the price of gram gold increased to ₺2,582, while quarter gold traded at ₺4,237. Spot gold saw a 0.28% rise, reaching approximately $2,399 per ounce, mirroring the trend in global markets.
Analysts attribute the recent stabilization in markets to the Federal Reserve’s dovish stance on recession concerns and updated growth forecasts in the U.S., with the Atlanta Fed raising its third-quarter growth projection to 2.9%. The easing of market tensions has provided a supportive environment for gold, which remains a favored asset amid ongoing uncertainties.
Source: NTV / Prepared by Irem Yildiz
