Gold prices continued to rise due to the impact of the Fed interest rate decision and increasing geopolitical tensions in the Middle East. The price of an ounce of gold broke a record, reaching 3,017 dollars. Meanwhile, the price of a gram of gold surpassed 3,550 liras.

Gold reached a record high ahead of the decision by the Federal Reserve (Fed) on interest rates. Starting the day positively, the price of an ounce of gold reached 3,017 dollars, hitting the highest level in history. The price of gold per ounce has seen a 15% increase since the beginning of the year. The price of a gram of gold reached 3,551 liras, while a quarter of gold renewed the peak at 5,826 liras. The markets are now focused on the interest rate decision that the Fed will announce tomorrow. While it is expected that the bank will keep interest rates steady, the messages delivered by Fed Chairman Jerome Powell will be closely monitored. Signals will be sought regarding how the aggressive trade and tariff policies of US President Donald Trump will affect Fed decisions.

Economic data from the US have also heightened concerns about economic growth. Retail sales in February increased by 0.2% on a monthly basis, falling below market expectations. On the geopolitical front, Israel launched an air strike in the Gaza Strip. At least 220 people lost their lives in the attacks. Hamas announced that Netanyahu and his government had decided to violate the ceasefire and put hostages in an unknown situation. Moreover, Trump warned in a statement yesterday that future attacks by Houthi rebels in Yemen targeting foreign ships, including those from the US, in the Red Sea would be directly attributed to Iran.