The Turkish lira fell by regarding 2.5 percent yesterday following rising the previous day as fears of rising inflation due to unconventional policies aimed at boosting exports and growth persisted.
According to “Archyde.com”, the lira settled at 13.62 once morest the dollar during trading yesterday, down from 13.2890 at the close of the previous day. The Turkish currency rose regarding 4.7 percent to 13.15 late yesterday.
The lira lost 44 percent of its value once morest the dollar last year.
In addition, gold prices fell somewhat yesterday, with the US Treasury bond yields rising, which compensated some of its previous losses, but the precious metal remained close to its highest level in a week recorded in the previous session, as the dollar continued its decline.
And the price of gold in spot transactions fell 0.1 percent to 1823.24 dollars an ounce.
And the price of gold in the US futures contract fell 0.3 percent, recording 1822.20 dollars.
In the previous session, the price of gold rose to 1827.92 dollars, its highest level since the fifth of January (January).
Yesterday’s data showed US consumer prices rose in December and the annual increase in the inflation rate reached its highest level in nearly four decades, boosting expectations that the Federal Reserve will raise interest rates as early as this year, possibly in March.
Gold is an inflation hedge, but the metal is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding gold.
In other precious metals markets, the price of silver in spot transactions increased 0.2 percent to $23.15 an ounce, and the platinum price fell 0.3 percent to $974.49 an ounce, and palladium settled at $1910.60.
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