US election storm in safe haven: How much is gram, quarter and Republic gold?

The first results from the US midterm elections, which are the focus of global markets, triggered a sharp upward movement in gold prices. Gram gold, which closed the day at 6,304 lira yesterday, started the new day with a rapid buying wave and climbed to 6,460 lira with a 2.5 percent gain in value as of 09.40.

GOLD PRICES

At the same time, quarter gold is sold at 10,653 lira in the domestic market, and Republic gold is sold at 42,415 lira. With the weakening of the dollar in global markets, gold is trading at $4,016 per ounce, with a strong increase of 2.4 percent.

POLITICAL UNCERTAINTY EXPLODES THE DEMAND FOR A 'SAFE HARBOR'

Behind this sudden jump in gold lies the unofficial results of the Congressional midterm elections held in the USA. According to the first data received, the Republicans won the majority in the House of Representatives after the Democrats in the Senate, opening the doors to a new era in Washington.

Markets are pricing that, with the Democrats taking full control of Congress, the policies implemented by US President Donald Trump may be disrupted and the political room for maneuver will narrow.

The expectation that regulatory controls may tighten, especially for technology and artificial intelligence companies with high growth potential, is seen as a downside risk for stock markets and the dollar.

Increasing uncertainties regarding the Trump administration's policies and possible political tensions are rapidly directing investors to the "safe haven" gold, supporting prices.