Today, each gram of gold in Turkey was 6,481 liras

After the increase yesterday, the price of gold began trading on Wednesday, October 28, without significant fluctuations; each gram of gold was priced at 6,481 liras in the Turkish free market and each ounce of gold in global markets was priced at around $4,042.

According to Kurdpress, the gold market entered a new trading day as investors await the announcement of the US Federal Reserve's decision on interest rates and the bank's messages on the outlook for monetary policy.Based on the sales prices recorded in the Turkish open market, the prices of various types of gold started in the first hours of trading on Wednesday as follows:

24-karat gold per gram: 6,481 liras

Gold quarter coin: 10,626 liras

Gold half coin: 21,246 liras

Full gold coin: 42,105 liras

Republic coin: 42,356 liras

Garmese coin: 105,586 liras

Gold ounce: about $4,042

Global gold calms down after 1.1 percent growth

After increasing 1.1 percent in the previous trading session, the spot price of gold reached $4,061.96 per ounce in the following trading session.

US gold futures also rose to $4,758.80.

Gold had been under selling pressure in recent days. After the decline in the stock value of companies active in the field of artificial intelligence, a number of investors sold part of their gold positions to offset their losses in other markets.As a result of this pressure, gold prices hit their lowest level since mid-July on Friday and briefly fell below $4,000.

However, increased physical gold purchases, especially from rising Chinese household demand, prevented prices from continuing to fall sharply. The assessment of the recent decline as an opportunity to buy also helped the market recover somewhat.

Market awaits Fed messages

Investors' attention is now focused on the US Federal Reserve's decision on interest rates. The market's dominant expectation is that the bank will keep interest rates unchanged.

However, continued high energy costs and inflationary pressures have kept the possibility of interest rate hikes by the end of the year in the spotlight.Federal Reserve Chairman Kevin Warsh's comments on the fight against inflation will also be closely watched, as his messages could provide fresh clues about the path of US monetary policy and the future direction of the gold market.

Other precious metals limited volatility

In other precious metals, silver was trading unchanged at $54.41 an ounce.

Platinum fell 0.1 percent to $1,542.63, while palladium rose 0.1 percent to $1,373.39

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