Current Gold Prices and Exchange Rates: May 15, 2024 Updates

Investors are keen on knowing the latest gold prices, including gram and quarter gold rates for today. Here’s the scoop on the current gold exchange rates as of May 15, 2024.

Ahead of the much-anticipated US inflation data, gold prices remained steady in the market spotlight. An ounce of gold traded at $2,356, representing a marginal decrease of 0.08%.

The prices of gram and quarter gold were influenced by both the fluctuating ounce gold rates and the Dollar-to-Turkish Lira (TL) exchange rate. Gram gold hovered around ₺2,449, while quarter gold was transacted at ₺3,986.

Market attention is focused on the upcoming release of consumer price data, which will provide insights into the monetary policy direction of the US Federal Reserve (Fed). The US inflation data is scheduled for announcement at 15:30.

Analysts estimate a 0.3% increase in inflation for April compared to the previous month, following a 0.4 percent rise in March.

Recent data from the USA indicated that producer prices in April exceeded expectations, highlighting continued inflationary pressures in the second quarter.

Addressing a banking event in Amsterdam, Fed President Jerome Powell characterized the rise in producer prices as “complicated” rather than “strong,” noting a downward revision of the previous month’s data.

The Dollar index, gauging the dollar against six major currencies, slipped by 0.08% to 104.97.

Stay tuned for more updates on gold prices and market developments.

Source: NTV / Prepared by Irem Yildiz

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