Gold Prices October 19, 2023: How much is Quarter Gold and Gram Gold?
Gold prices continue to rise due to the developments in global markets. Increasing tension in the Middle East, rising bond interest rates in the USA and Fed Chairman Powell's speech are among the factors affecting gold prices. So, how much are quarter gold and gram gold prices today? Here are the gold prices as of October 19, 2023…
Why are gold prices soaring?
Gold prices have been positively affected by the recent developments in global markets. Since gold is an asset seen as a safe haven, its demand increases when uncertainty, risk and tension increase in the markets.
The ongoing conflicts between Israel and Palestine in the Middle East increase political and military tension in the region. This increases the demand for gold.
In the USA, inflation expectations and bond interest rates are rising as the economic recovery accelerates. This strengthens the dollar and suppresses the dollar price of gold. However, investors are waiting for the speech that US Federal Reserve (Fed) Chairman Jerome Powell will make today. Powell is expected to give clues about monetary policy and inflation target. Powell's statements may be decisive on the direction of gold prices.
How Much Are Quarter Gold and Gram Gold Prices Today?
The ounce price of gold in the spot market is hovering near the peak of about two and a half months. The ounce price of gold is traded at 1946 dollars.
The gram price of gold is at 1755 lira. Gram gold price has gained 2,5 percent in value in the last week.
Quarter gold finds buyers at 2 thousand 890 liras. The quarter gold price increased by 2,4 percent in the last week.
The prices of other types of gold are as follows:
- Republic Gold: 12 thousand 345 lira
- Reşat Gold: 12 thousand 719 liras
- Reşat Gold with Handle: 12 thousand 693 liras