Gram Gold at ₺2,537, Quarter Gold at ₺4,155 on July 11, 2024
Gold prices are drawing significant interest from investors as they react to the latest economic data. Following lower-than-expected inflation figures from the US, gold has seen a notable increase.
On July 11, 2024, the price of one ounce of gold rose by 1.30%, reaching approximately $2,401. This upward movement in gold prices has also positively impacted the prices of gram and quarter gold.
Gram gold is currently trading at around ₺2,537, while quarter gold is being exchanged at ₺4,155.
The US reported an annual inflation rate of 3% for June, which was below the anticipated 3.1%. The monthly inflation rate recorded a slight decline at -0.1%, contrary to the expected 0.1% increase.
In a recent address to the House Financial Services Committee, Federal Reserve Chair Jerome Powell stated that continued strong economic data could pave the way for the central bank to reduce interest rates.
Market expectations now suggest a 75% likelihood that the Fed will lower interest rates in September.
Source: NTV / Prepared by Irem Yildiz