Sharp drop in silver after the Reddit boom
Silver prices fell on Tuesday after Reddit investors flocked to commodities, while ounce of gold fell on expectations of inflation and a fiscal stimulus package. Gram gold fell below 430 TL after a long time.
Gold fell slightly on Tuesday, although it has been high since the beginning of the week after the new moon started with a rise. Silver, on the other hand, dropped around 6 percent after testing above $ 30 levels on Monday. Gram gold again fell below 430 TL after a long time with the decline in the Dollar / TL exchange rate.
Ounce gold investors will follow the Euro Zone inflation figures to be announced this week. Increasing prices in Europe and signaling economic activity may increase the demand for gold, which is a safe haven against inflation.
In the USA, disagreements between Democrats and Republican senators regarding the size of the stimulus package were resolved. While the Democrats plan a comprehensive economic transformation and recovery with a $ 1.9 trillion fiscal stimulus package, Republicans argue that the package should be scaled down, arguing that these expenditures will bring a huge debt burden.
Ounce gold price
Gold prices have been in a fluctuating course since the beginning of the week, together with fiscal incentive discussions and inflation expectations. The price of the precious metal fell 0.31 percent at 08:09 on Tuesday, after yesterday's rise, to $ 1,854.98 an ounce.
Gold price per gram
Gram gold fell below 430 TL for the first time since July, affected by the 1.65 percent drop in the dollar / TL exchange rate since the beginning of the week. Gram gold is around 428 TL with a 0.4 percent decrease as of February 2.
Silver fell close to 6 percent after rising more than 10 percent on Monday as Reddit investors turned to commodities after stocks. Silver prices fell 2.13 percent on Tuesday to $ 28.45 per ounce. Silver has been up 5.46 percent since the beginning of the week.