Today’s gold prices in Turkiye. Here’s the current quarterly gold exchange rate prices as of May 13, 2024.
Gold prices fell as investors await U.S. inflation data that could hint at the timing of the Fed’s first interest rate cut.
An ounce of gold decreased by 0.32% and was traded at $ 2,353.
Gram and quarter prices were affected by both ounce gold and Dollar/TL.
Gram gold hovered around ₺2,439. Quarter gold changed hands at ₺3,979.
Inflation data to be announced this week will be decisive in determining whether the US will cut interest rates earlier than expected.
US April consumer inflation data will be watched closely after being announced above expectations for the third consecutive month. It is estimated that consumer prices will increase by 0.3% monthly in April, following the 0.4% increase in March, and annual inflation will be 3.6%.
Low data is expected to increase expectations that the US Federal Reserve (Fed) will reduce interest rates in July. Markets are pricing in a 25% probability of an interest rate cut in July.
The final inflation data to be announced in Europe is also expected to strengthen expectations that the European Central Bank (ECB) will cut interest rates in June.
On the other hand, data on economic activity in China will test optimism about a sustainable recovery in the world’s second largest economy.
Inflation in China increased by 0.3% in April compared to the same month last year, helping to reduce concerns about long-term deflation. It is estimated that there will also be an increase in the April retail sales and industrial production data to be announced on Friday.
QUARTER GOLD PRICES
It is the smallest member of the quarter gold ornament group. It is popularly called the small gold.
HOW MANY GRAMS IS A QUARTER GOLD?
Gold gains value according to its weight. Quarter gold is 18 mm thick and 22 carat. A quarter gold coin weighs 1.75 grams. The fine gold weight of one quarter gold is calculated as 1,635 grams.
ARE QUARTER GOLDS WITH HANDLES MORE EXPENSIVE?
Quarter gold was used both as jewelry, jewelery and as an investment tool. Quarter gold coins considered as gifts have handles. Quarter gold coins preferred for investment purposes are handleless. The pure gold content of quarter gold is not included in its handles. Quarter gold handles are not gold.
Source: NTV / Prepared by Irem Yildiz