Gram gold price starts the day with an increase

Following the decline in the ounce price yesterday, the gram price of gold lost value, closing the day at 2,870 liras, a 0.6 percent decrease compared to the previous close.

The gram price of gold, after starting the new day with an increase, is at the level of 2 thousand 874 liras as of 09:55, an increase of 0.1 percent compared to the previous close. As of the same minutes, quarter gold is being sold at 4 thousand 950 liras, and Republic gold is being sold at 19 thousand 720 liras.

The price of an ounce of gold is currently trading at 2,612 dollars, gaining 0.2 percent compared to its previous close.

As the global fight against inflation nears its end, concerns persist over whether the long-standing period of high interest rates will result in a recession.

In global markets, a positive trend has emerged due to expectations that the U.S. economy could achieve a "soft landing," while all eyes are now turned to the inflation data to be released in the country today.

Analysts stated that optimistic signals from the employment report released last week have fueled risk appetite, noting that the inflation data to be announced today could increase volatility in the markets.

Following the data released last week, expectations for interest rate cut steps in the markets have diminished, while it is now considered certain that the Fed will implement a total of 50 basis points in cuts, with 25 basis points at each of the two meetings remaining until the end of the year.

Meanwhile, news flow regarding the tension in the Middle East and Hurricane Milton, which is impacting the U.S. state of Florida, is also being closely monitored by investors.

Analysts stated that weekly money and banking statistics will be monitored domestically today, while the Consumer Price Index (CPI), weekly jobless claims, and the federal budget balance will be followed in the US, noting that from a technical perspective, the $2,640 level is resistance and the $2,590 level is support for the ounce price of gold.