Quarter Gold Prices Today: Current Gold Rates on June 24, 2024

What are today’s latest prices for “Çeyrek Altın” (quarter gold) and “Cumhuriyet Altını”? Stay updated with the current market trends and developments in gold prices.

Today, the gram price of gold started the week flat, trading at 2,460 Turkish Lira.

“Çeyrek Altın” (quarter gold) is selling at 4,033 Turkish Lira, while “Cumhuriyet Altını” (Republic gold) is priced at 16,280 Turkish Lira.

The price of gold per ounce is currently trading at $2,326, showing a 0.2% increase.

Analysts note that despite increasing expectations that the Federal Reserve (Fed) may cut interest rates twice this year, cautious statements from Fed officials continue to influence market sentiment. This week, investors are focused on U.S. growth data and other key economic indicators.

Analysts also highlight that core personal consumption expenditure (PCE) price index data, a key inflation gauge for the Fed, could increase market volatility and potentially alter pricing in financial markets.

As the week unfolds with a busy data calendar, markets are pricing in a 72% probability of the Fed’s first interest rate cut in September and a 91% probability in November. The likelihood of a second rate cut by December is currently priced at 84%.

Domestically, all economists surveyed by AA Finans expect the Turkish Central Bank (CBRT) to maintain its policy rate at 50% during the Monetary Policy Committee (PPK) meeting scheduled for Thursday, June 27.

Analysts suggest that today’s focus in domestic markets will be on financial services confidence index, real sector confidence index, and capacity utilization rate data. Internationally, attention will be on Germany’s Ifo Business Confidence Index and the Dallas Fed Manufacturing Index in the U.S.

From a technical perspective, analysts point out that resistance levels for the gold ounce are at $2,350 and $2,380, while support levels are at $2,320 and $2,300.

Source: NTV / Prepared by Irem Yildiz

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