Gold Rallies Amid Geopolitical Tensions and U.S. Interest Rate Speculations
Gold prices have surged, driven by geopolitical tensions in the Middle East and expectations of interest rate cuts in the U.S. As investors keep a close watch on the Federal Reserve’s next moves, economic data from the U.S. shows mixed signals. Following the recent drop in unemployment claims to 233,000, concerns over a potential recession have eased slightly, boosting gold’s appeal as a safe haven.
As of today, spot gold has risen by 1.24% to trade around $2,412 per ounce. This upward trend is reflected in domestic gold prices, with gram gold reaching ₺2,596 and quarter gold trading at ₺4,256.
Meanwhile, the decline in carry trade activities and the actions of the Bank of Japan are also under scrutiny by investors. JPMorgan CEO Jamie Dimon expressed skepticism about inflation returning to the Fed’s 2% target. Additionally, the dollar index, which measures the greenback against six major currencies, increased by 0.23% to 103.4.
Source: NTV / Prepared by Irem Yildiz
