US non-farm payroll data released: Gold prices surged instantly
Gold prices accelerated their rise following US non-farm payroll data that came in below expectations.
12punto
Following the U.S. non-farm payrolls growth falling short of expectations and the rise in the unemployment rate, investors have begun pricing in that the Fed will start easing policy with a 50 basis point interest rate cut in September.
Accordingly, markets, which had priced in a 70 percent probability of a 25 basis point cut in September before the employment data, have begun assigning a 70 percent probability to a 50 basis point cut following the data.
Gold prices accelerated their rise after US employment data showed that the labor market is cooling. Accordingly, the price of an ounce of gold, which was trading at 2,456 dollars before the decision, reached 2,477 dollars as of 15:52. Gram gold, the value of which is calculated based on the ounce of gold and the dollar/TL exchange rate, rose to 2,640 liras after the decision, up from 2,622 liras before the decision.
Employment in the US slowed more than expected in July, and the unemployment rate rose to its highest level in nearly three years. Accordingly, non-farm payroll data came in at 114 thousand for July. The general market expectation for this period was for non-farm payrolls to be measured at 176 thousand.
As of the same period, the unemployment rate, which had a market expectation of 4.1 percent, was measured at 4.3 percent. The data indicated that the labor market is cooling faster than other figures suggest, supporting gold prices as they climbed to record levels.
The price of Gram Gold currently corresponds to 2,627.95 TL. Gram Gold has changed by 0.96% in the last 24 hours and by 3.91% in the last week. Gram Gold reached its highest level of the last month on 02.08.2024 at 2,644.59 TL. Gram Gold reached its lowest level of the last month on 04.07.2024 at 2,456.48 TL.
The price of a Quarter Gold coin is currently 4,303.49 TL. The Quarter Gold has changed by 0.57% in the last 24 hours and by 2.42% over the last week. The Quarter Gold reached its highest level of the last month on 17.07.2024 at 4,352.26 TL. The Quarter Gold reached its lowest level of the last month on 04.07.2024 at 4,050.33 TL.
The price of a Half Gold coin currently corresponds to 8,606.98 TL. The Half Gold has changed by 0.57% in the last 24 hours and by 2.42% in the last week. The Half Gold reached its highest level of the last month on 17.07.2024 at 8,704.52 TL. The Half Gold reached its lowest level of the last month on 04.07.2024 at 8,100.66 TL.
The price of a Full Gold coin currently corresponds to 17,161.31 TL. The Full Gold coin has changed by 0.57% in the last 24 hours and by 2.42% in the last week. The Full Gold coin reached its highest level of the last month on 17.07.2024 at 17,355.81 TL. The Full Gold coin reached its lowest level of the last month on 04.07.2024 at 16,151.77 TL.
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The price of an 18-karat gold bracelet currently corresponds to 1,921.44 TL. The 18-karat gold bracelet has changed by 0.57% in the last 24 hours and by 2.42% in the last week. The 18-karat gold bracelet reached its highest level of the last month on 17.07.2024 at 1,943.21 TL. The 18-karat gold bracelet reached its lowest level of the last month on 04.07.2024 at 1,808.40 TL.
The price of a 22-karat gold bracelet currently stands at 2,398.97 TL. The 22-karat gold bracelet has changed by 0.51% in the last 24 hours and by 2.35% over the last week. The 22-karat gold bracelet reached its highest level of the last month on 17.07.2024 at 2,427.68 TL. The 22-karat gold bracelet reached its lowest level of the last month on 04.07.2024 at 2,259.27 TL.
The price of a Reşat Gold coin currently corresponds to 17,781.85 TL. The Reşat Gold has changed by 0.51% in the last 24 hours and by 2.35% over the last week. The Reşat Gold reached its highest level of the last month on 17.07.2024 at 17,994.67 TL. The Reşat Gold reached its lowest level of the last month on 04.07.2024 at 16,746.31 TL.
The price of Hamit Gold currently corresponds to 17,781.50 TL. Hamit Gold has changed by 0.51% in the last 24 hours and by 2.35% in the last week. Hamit Gold reached its highest level of the last month on 17.07.2024 at 17,994.67 TL. Hamit Gold reached its lowest level of the last month on 04.07.2024 at 16,746.31 TL.
