Gold starts the day with gains: All eyes on the US
Gram gold started the day with gains. Developments in the Strait of Hormuz, oil prices, and US inflation data are being monitored in the markets.
12punto
Gold prices started the new day with a limited rise. As of 09:20, gram gold was trading at 6,874 liras, an increase of 0.2 percent compared to the previous close.
Gram gold, which lost value yesterday in parallel with the decline in ounce gold, had completed the day at 6,860 liras, down 0.53 percent from the previous close. In the morning hours, quarter gold was sold at 11,233 liras, and Republic gold was sold at 44,726 liras.
Ounce gold also showed an upward trend in global markets. With the relative weakening of the dollar and the slowing rise in bond yields, ounce gold gained 0.2 percent in value to reach 4,414 dollars.
Geopolitical developments are also being closely monitored in the markets. While statements regarding the nearing of an agreement to ensure safe ship traffic in the Strait of Hormuz remain on the agenda, it is noted that investors are acting cautiously until a final agreement is reached.
Despite the positive news flow, the rise in oil prices following reports that Saudi Aramco's Jazan oil facilities were struck drew attention. The failure of energy costs to decline keeps concerns regarding inflation risks alive.
Analysts state that this outlook could support the possibility of global central banks maintaining their tight monetary policy stance. For this reason, the US inflation data to be announced on Friday is at the center of the markets' focus.
It is assessed that if the data deviates from expectations, volatility may occur in the pricing of the US Federal Reserve's (Fed) future policy steps. It is stated that the data agenda for the rest of the day is quiet.