Ounce gold has decreased with the publication of the US Federal Reserve (FED) minutes during the trading week we left behind. It turned around $1,790 during this pullback. Gram gold, on the other hand, fell below 800 lira. Economist Selçuk Geçer, who stands out with his various comments on the market, conveyed his thoughts on the precious metal.
Economist Selçuk Geçer explained his comments on the gold price
Cryptocoin. com, after the US Federal Reserve announced its minutes, an ounce of gold fell below $ 1,800. After that, gold prices rose slightly on Friday’s jobs data, despite the Fed signaling faster rate hikes. Data showed US job growth was slower than expected last month, with the price rising from a three-week low on Friday. Still, it’s changing hands at relatively low levels.
Economist Selçuk Geçer, who made an assessment on this, argued that the price of an ounce of gold could make “interesting attacks” in a post he made on Twitter. Selçuk Geçer points out that the ounce price of gold remains firmly at $1,790 despite the interest rate hike expectations. According to the economist, an increase in interest rates will not be enough to counter US inflation. Selçuk Geçer emphasizes that “even if there are small retreats, interesting attacks can be experienced” under ounce. Lastly, passing on grams of gold, Geçer uses the words “calculate grams of gold with the rise of the dollar”. Dollar/TL parity closed the week at 13.8.