The gram price of gold started the day with an increase! Here are the gram, quarter and republic gold prices

After starting the new day with an increase, the gram price of gold is at 2 thousand 420 liras, 1.1 above its previous closing, as of 09.40. As of the same minutes, quarter gold is sold for 3 thousand 980 liras, and Republic gold is sold for 15 thousand 870 liras.

While the ounce price of gold closed the day at 2 thousand 304 dollars yesterday with a 0.9 percent depreciation, it is currently finding buyers at 2 thousand 311 dollars, 0.3 percent above its previous closing.

EFFECT OF OUNCE OF GOLD FROM BUYING OPPORTUNITY

While gold prices continue to seek balance following the FED decisions; The horizontal trend was noteworthy throughout the week. The May PPI data announced in the USA yesterday decreased by 0.2 percent, against the expectation of a 0.1 increase. While it was a matter of curiosity whether the recent decline in gold was a buying opportunity for investors, the fact that gold transactions in global markets continued near 2306 dollars per ounce indicated that the imbalance in the markets would be long-term.

While both consumer and producer inflation in the USA remained below expectations, a mixed course was observed in asset prices, and the intense data agenda became the focus of investors today.

USA’S CPI AND PPI DATA ARE BELOW MARKET FORECASTS

On Wednesday, the Consumer Price Index (CPI) in the USA remained unchanged on a monthly basis in May, but was below expectations with an increase of 3.3 percent on an annual basis. Yesterday, while the Producer Price Index (PPI) in the country decreased by 0.2 percent on a monthly basis in May, it increased by 2.2 percent on an annual basis, below market expectations.

Despite the slowdown in inflation, the US Federal Reserve (Fed) maintains its hawkish stance, causing risk perception to remain strong.

THE POSSIBILITY OF THE SECOND INTEREST CUT IS 90 PERCENT

Although the projections of the Fed officials show that there is an expectation of 1 interest rate cut for this year, the markets price the possibility of the bank’s second interest rate cut in December at 90 percent after a possible interest rate cut.

Analysts stated that the data announced in the USA showed that the tight stance in the fight against inflation was bearing fruit, and that the macroeconomic data to be announced in the coming period will be closely monitored to see whether the economy will continue to give signals of slowdown.

Following these developments, the US 10-year bond interest rate dropped to 4.23 percent yesterday, testing its lowest level since April 1. Currently, the bond’s yield is at 4.27 percent.

Today, the Central Bank of the Republic of Turkey (CBRT) market participants survey and international investment position in the country, the foreign trade balance in the Eurozone and the European Central Bank (ECB) Christine Lagarde’s speech, as well as the consumer confidence index of the University of Michigan in the USA. Stating that the data will be followed, analysts noted that technically, the 2 thousand 320 and 2 thousand 340 dollars levels are resistance in the ounce price of gold, and the 2 thousand 280 and 2 thousand 250 dollars are support positions.