Last chance to buy gold: New record could be broken
Emphasizing that the decline in gold prices has created a last purchase opportunity for investors, experts point out that the approval process for the vaccine has not yet been completed and that new records may be seen by the end of the year.
The announcement that the coronavirus vaccine developed by the US-based pharmaceutical company Pfizer and Germany-based BioNTech companies was 90 percent effective caused a rally in the world stock markets at the beginning of the week.
The vaccine is expected to be used in January. With this news, which the world agencies passed as the last minute, the price of gold per ounce fell to $ 1,915.
The gram price of gold fell sharply below 500 lira and closed at 485 lira on Monday.
Quarter gold declined to 793 liras. Gram gold, which lost value in parallel with the ounce price of gold and the sharp decline in the dollar exchange rate, started trading at 500.6 liras, 3.8 percent above the previous closing, on November 10, and gram gold fell again to below 500 lira by turning the needle down again in the following hours.
DOLLAR DRY ALSO AFFECTED
Gold prices completed the first trading day of the week with sharp declines, and gold and money markets expert Islam Memiş emphasized that transactions were carried out in the range of $ 1,850-1965 in the ounce price of gold and 483.00-535.32 liras in the gram price of gold. On the same day, we saw that the price of gold depreciated by 115 dollars and the price of gold by 52 liras. The decline of the dollar / TL exchange rate from 8.52 lira to 8.00 lira in domestic markets was effective in the sharp decreases in the gram price of gold. ''
THE FASTEST RISE IN THE LAST TWO YEARS
The Central Bank of Turkey (CBT) new chief Naci Ağbal the "November 19, 2020 the Monetary Policy Committee (MPC) revised the current situation and expectations to the meeting will consist followed closely in the development of data and assessments necessary policy decisions in the light Stating that the Turkish Lira has become active after his statement, Memiş said that the TL has experienced the fastest rise in two years.
THE PURCHASING TAIL IS REPLACED BY SELLERS
Noting that they observed that domestic investors who formed buying queues on Friday in the Grand Bazaar market were replaced by domestic investors selling gold and foreign exchange on Monday, Memiş said, `` We have seen that domestic investors who think that the decreases in exchange rates and gold prices will continue, have taken a TL position. '' / p>
THE VACCINE HEALTH REDUCED GOLD PRICES
The biggest factor behind the fall in gold prices is to prevent the disease by 90 percent of the Kovid-19 vaccine developed by Pfizer and BioNTech in experiments on tens of thousands of subjects.