With the impact of uncertainty in trade, gold prices remained on a positive trend. The price of an ounce of gold traded near a record level of $2,230. Meanwhile, the price of a gram of gold approached 4,000 lira.

The demand for safe haven assets continues due to the uncertainty in global trade. The price of an ounce of gold remains close to a record level of $2,230. The price of gold per ounce yesterday reached a record high of $3,245, showing a 23% increase since the beginning of the year. U.S. President Donald Trump signaled an exemption for additional tariffs on automobiles after technology products. In the Oval Office, Trump stated to journalists, “I am looking for something to help automobile companies. Manufacturers are moving to parts produced in Canada, Mexico, and other places and they need some time because they are going to make them here.” Goldman Sachs raised its gold price forecast for 2025 from $3,300 per ounce to $3,700. Goldman has set its 2025 expectation at $4,000. UBS updated its year-end gold forecast to $3,500, while Commerzbank set it at $3,000. Investors are focusing on how the Federal Reserve’s (Fed) monetary policy will proceed amid rising concerns of recession and inflation. Fed Board Member Christopher Waller stated that if Trump’s tariffs remain in place, interest rates may need to be lowered soon. Clues regarding an interest rate cut will be sought from Fed Chairman Jerome Powell’s speech today. A total decline of 86 basis points is priced into the markets by the end of the year. The Fed is expected to keep interest rates steady next month.

HOW MUCH IS A GRAM OF GOLD? Parallel to the price of an ounce of gold, there was an increase in the prices of a gram and a quarter of gold. Gram gold is trading at 3,948 lira, while a quarter of gold is trading at 6,475 lira.