
Gold prices today are fluctuating in response to recent U.S. economic data. Here’s a detailed update on today’s gold rates.
Gold prices are a critical focus for investors, and today’s rates reveal a notable shift influenced by recent U.S. economic data. As of August 15, 2024, gold prices have experienced some adjustments, reflecting broader economic trends and market reactions.
Current Gold Prices
- Gold (Ounce): Starting the day at approximately $2,454, gold saw a slight decrease to $2,447 per ounce following new data from the U.S.
- Gram Gold: Priced at ₺2,635, gram gold has mirrored the fluctuations seen in the global market.
- Quarter Gold: Currently valued at ₺4,338, this popular denomination also follows the broader trend of gold price changes.
Market Influences on Gold Prices
Recent economic indicators from the United States have impacted gold prices. July’s retail sales in the U.S. increased by 1%, surpassing expectations, while jobless claims fell to 227,000, indicating a robust labor market. Despite these positive signs, the manufacturing sector showed contraction. The New York Fed and Philadelphia Fed reported declines in their respective manufacturing indices for August, reflecting a slowdown in industrial activity.
The Federal Reserve’s potential actions are also on investors’ minds. With the U.S. economic data providing mixed signals, there is significant speculation about the Fed’s September meeting. Investors are pricing in a 74.5% chance of a 25-basis-point rate cut, marking the first reduction in over four years. Atlanta Fed President Raphael Bostic has indicated a willingness to lower rates in September, which has heightened expectations of monetary policy adjustments.
Gold Prices Snapshot:
- Gram Gold: ₺2,655.52 (up 0.35%)
- Ounce Gold: $2,456.49 (up 0.34%)
- Gold (kg): $79,300.00 (down 0.50%)
- Gold (Euro/kg): €72,293.33 (up 0.07%)
- Republic Gold: ₺18,020.27 (down 0.39%)
- Quarter Gold: ₺4,380.20 (down 0.39%)
- Reşat Gold: ₺18,565.53 (down 0.39%)
- Handle Reşat Gold: ₺18,528.30 (down 0.39%)
These price movements reflect broader market conditions and investor sentiment, with gold prices reacting to both domestic and international economic developments. As always, investors should stay informed about global economic trends to make well-informed decisions regarding their gold investments.
Source: NTV / Prepared by Irem Yildiz