Istanbul gold volume dives, awaits world trend
ISTANBUL, July 10 (Reuter) - Traded volume on the Istanbul gold exchange dived to 464 kilos on Thursday from 1,281 on Wednesday as the market quietly awaited world trends amid expectations of a decline in the short-term, dealers said.
Gold prices closed higher at 1,561,000 lira per gram and $321.50 an ounce, versus Wednesday's 1,535,000 lira and $318.00 in line with the European levels.
``Although we entered the summer season when demand usually firms, there were no buyers because the market is waiting for world prices to go down again in the short-term. Nobody wanted to buy gold at these levels,'' said one bank trader.
The Turkish currency closed easier at 150,980 per dollar after Wednesday's 150,900 which also pushed up lira prices.
The bulk of the day's trade -- 320 kilos -- took place in the morning session and 76.5 percent of the total trade was in lira terms. |
