Investors Keep a Close Eye on Gold Prices Ahead of U.S. Inflation Data Release Tomorrow
Gold prices have garnered significant interest from investors. Both gram and quarter gold rates are being closely monitored today. So, what are the current gold prices? How much is gram and quarter gold today? Here are the updated gold rates as of July 10, 2024.
Gold prices remained positive ahead of the U.S. inflation data release scheduled for tomorrow.
In the initial trades, an ounce of gold saw a 0.18% increase, trading at $2,368.
The prices of gram and quarter gold were influenced by both the ounce of gold and the USD/TRY exchange rate.
Gram gold hovered around ₺2,505. Quarter gold was traded at approximately ₺4,098.
Investors have raised their expectations for early rate cuts by the U.S. Federal Reserve (Fed).
Fed Chairman Powell, in his testimony before Congress, confirmed the improvements in the June quarter data but emphasized the need for additional data to bolster confidence in the inflation outlook.
Powell did not provide hints on the timing of rate cuts in his remarks.
Markets are currently pricing in a 73% probability of a rate cut by the Fed in September.
Source: NTV / Prepared by Irem Yildiz