Money and commodity markets continue to focus on the United States, where the latest inflation figures came in below expectations, shifting market expectations.
Click for current gold prices
The Fed has sent a hawkish message to markets by keeping interest rates on hold in recent weeks, but expectations of a rate cut are starting to take shape again in the market.
Former Fed official’s message on rate cuts
Old St. Louis Fed President James Bullard said he expects the pace of easing U.S. monetary policy to be slow but that the latest inflation data is raising expectations for a rate cut in September.
Gold price rose yesterday
The price of gold per ounce rose to $2365 the other day. The sharp fluctuation of gold per ounce caused the price of gold per gram in the country to rise. Due to the influence of the rise in the dollar/TL and gold per ounce, gold per gram tested 2498 liras yesterday. Thus, gold per gram reached the critical value of 2500 liras.
What’s the latest in the market today?
On the last trading day of the week, an ounce of gold started at $2,360 and is currently trading at $2,356, dropping slightly. The lowest level for an ounce of gold on this day was $2,355 and the highest was $2,365.
Starting the day at 2,489 liras, gold gram rose to 2,499 liras, approaching the psychological limit of 2,500 liras. Gold gram is currently trading at 2,490 liras. It tested the low of 2,482 liras for the day.
