Investors keenly watch gold prices as gram and quarter gold rates fluctuate. Discover today’s gold prices and exchange rates for gram and quarter gold as of May 28, 2024.
Gold prices remained stable amidst anticipation of key data releases in the USA and Europe.
Key Highlights:
- An ounce of gold traded around $2,354 with a slight increase of 0.13% today.
- Gram and quarter gold prices were influenced by both ounce gold and Dollar/TL rates.
- Gram gold maintained its position around ₺2,437.
- Quarter gold exchanged hands at ₺3,968.
Interest Rate Cut Expectations in Europe: Attention in global markets remains focused on critical data releases from the USA and Europe. Expectations of interest rate cuts in Europe, amidst slowing inflation, have bolstered risk appetite ahead of inflation data.
Officials from the European Central Bank (ECB) hinted at the possibility of interest rate reduction at the monetary policy meeting on June 6. Markets are pricing in two interest rate cuts by October this year, with an 88% probability of rates being reduced to 3.75% on June 6.
The dollar experienced a slight devaluation following the modest recovery in risk appetite, with the dollar index decreasing by 0.13% and hovering around 104.42.
Source: NTV / Prepared by Irem Yildiz