The exceeding of the 8 lire of the dollar meant that gold prices broke a record in terms of TL. The gram of gold has seen its historical peak with 497 lire.
Therefore, the gold investor has gained 3.5% in TL terms over the past week. With the recent rise, gold earned its investors 5.5% in the last month and 134% in 2020. The gold gram had started 2020 at 212 lire.
Meanwhile, the resurgence of coronavirus cases around the world has increased the search for safe havens. This research has raised the price of gold per ounce.
Although it follows an erratic chart, the price of the ounce of gold has risen 1.5% over the past month and reached $ 1.908. Gold started the year at $ 1,529.
THE FORECAST FOR THE END OF THE YEAR IS 2000 DOLLARS
In other words, early 2020 gold buyers have received around 25% in dollar terms so far.
Standard Chartered analysts said in a report released this week that they expect the price of gold to hover around $ 1900 until the US election due to the strengthening dollar. The bank announced its price forecast for the end of the year at $ 2000 and its price forecast for the first quarter of 2021 at $ 2100.