GOLD ROLLED DOWN AS 1% AT BORSA ISTANBUL
SEP 20 – SEP 27 / 2021 https://www.goldtakas.com/en 
 
Gold investors were in fear for loosing blood last week because of Fed’s interest rate announcement. Precious metal was moving around 1780 usd/oz but during the week was in course of downward trend. As expected FED change nothing on interest rate, gold moved a little since the stress on it just disappeared. Despite rate decision, Fed president’s explanations caused selling pressure on gold, cause FED could start to reduce bond buying program earliest on November. This was the most net message. Luckily this message was not affected the market that much hard. 

At Borsa Istanbul, gold closed the session with the lowest level as1747.50 usd/oz. Between expectations and uncertainty gold trading volume remained low as just 5.5 MT. Silver price is much more stable around 22.70 usd/oz and 10 MT silver changed hands.

Borsa Istanbul market is quite at the beginning of the week. There are sellers with around 2 usd/oz but buyers just accepting 50 cent. Since USD/TRY rate changed rose up rapidly, market balance also was affected by rate fluctuating. Market players mostly preferred TRY at the beginning of the week.