Today’s Gold Prices: Gram and Quarter Gold Rates as of June 11, 2024

Investors Await U.S. Inflation Data and Federal Reserve Decision, Gold Prices Hold Steady Ahead of Key Announcements

As investors closely monitor the gold market, many are eager to know the latest updates on gold prices, including the value of a gram and a quarter of gold. So, what are the gold prices today? Here’s the latest on gram and quarter gold prices for June 11…

Gold prices have remained relatively stable today, as investors await the release of U.S. inflation data and the Federal Reserve’s interest rate decision. The price of gold per ounce saw a modest increase of 0.19%, trading at $2,316.

Both gram and quarter gold prices have been influenced by fluctuations in both the price of gold per ounce and the USD/TRY exchange rate. Gram gold has been hovering around ₺2,408, while quarter gold has been exchanging hands at ₺3,941.

Tomorrow, the U.S. will release its inflation figures, with headline inflation expected to be around 3.4%. Meanwhile, the Federal Reserve is set to announce its interest rate decision at 21:00 GMT. While the Fed is widely expected to keep rates unchanged, investors will closely scrutinize Chairman Jerome Powell’s commentary on the economic outlook.

Expectations for Fed interest rate cuts have varied, with some predicting up to two rate cuts by the end of the year. However, there’s debate over whether a rate cut in September would be premature.

In Europe, concerns over political uncertainties have escalated, particularly following gains made by far-right parties in the European Parliament and France’s decision to call for early elections. This has led to a spike in bond yields across the European Union, reaching levels not seen in approximately 8 months.

Source: NTV / Prepared by Irem Yildiz

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