The price of an ounce of gold is hovering near the record high of over $3,000. Meanwhile, a gram of gold is priced around 3,700 Turkish lira. Gold prices continue to remain close to the record high. On the last trading day of the week, an ounce of gold is trading at around $3,030. Yesterday, the price per ounce of gold hit a record of $3,057. Gold has risen by over 15% since the beginning of the year. The uncertainties in global trade and the demand for safe havens have been influential in the rise of gold. Following the interest rate decision of the Federal Reserve, clues about monetary policy are beginning to clarify. The Fed, which kept the policy rate unchanged, had confirmed plans for two interest rate cuts this year. Fed Chairman Powell described the impact of President Trump’s tariffs on inflation as temporary. However, Powell reiterated that there is no rush for an interest rate cut. Meanwhile, tension in the Middle East has escalated once again. After Israel expanded its attacks on Gaza, Hamas launched rockets towards Tel Aviv. The US continued its air strikes on Houthi targets in Yemen. It is also expected that Trump’s new tariffs will come into effect as of April. As for the price of a gram of gold, it has been increasing along with a quarter of an ounce. Due to the rise in the price of an ounce of gold and the USD/TRY exchange rate, gram gold had reached 4,000 lira the day before. After the sales that followed this level, gram gold dropped below 3,700 lira and is currently trading at 3,695 lira. A quarter of an ounce of gold is changing hands around the 6,000 lira mark.