07.09.2026 10:40
Gold prices started the new week with losses as strong employment data from the US reshaped expectations regarding the Fed's monetary policy. Investors are closely monitoring this week's US inflation data, which could guide the Fed's interest rate decision.
In the domestic gold market, as of 10:30 on Monday, September 7, the selling price of gram gold fell to 6,848 TL, while quarter gold was traded at 11,185 TL. In global markets, the ounce price of gold was trading at 4,403.39 dollars at the same time.
SELLING PRESSURE INCREASES IN GLOBAL MARKETS
In international markets, the spot gold ounce price lost 0.5 percent in value, falling to 4,405.47 dollars. Similarly, US gold futures contracts recorded a 0.5 percent decline, with prices falling to 4,452.20 dollars. Despite minor differences at the time of data updates, the global pressure on the ounce price was also reflected in domestic markets. Strong employment data confirming the robust performance of the US economy were effective in the decline in gold prices. This data strengthened expectations that the Fed might adopt a more cautious stance regarding interest rate cuts.
EYES ON US INFLATION DATA AND FED MEETING
Market participants are focused on the Consumer Price Index (CPI) data to be released in the US to determine the short-term direction. KCM Trade Chief Market Analyst Tim Waterer emphasized that strong employment figures are putting pressure on gold, but that the inflation data will be decisive before the September decisions. According to CME FedWatch data, markets are pricing in a 58.4 percent probability of a rate increase at the Fed's meeting on September 15-16. The inflation data is of critical importance because a high interest rate environment reduces the attractiveness of gold, which offers no interest yield.
TRUMP'S INTEREST RATE PRESSURE ON THE FED AND GEOPOLITICAL RISKS
Another development increasing volatility in the markets was the statement by US President Donald Trump regarding monetary policy. Trump stated that if the Fed does not cut interest rates, trade with countries that have a trade deficit with the US could be halted. This statement has reignited debates over the central bank's independence and political pressure on it.
Meanwhile, tensions in the Middle East and hot developments between Iran and the US are also being closely followed by investors. Statements by Iranian officials that any potential attack would be met with a harsh response are keeping the perception of geopolitical risk alive.
DECLINES ALSO DOMINATE OTHER PRECIOUS METALS
The selling wave initiated by gold was also reflected in other precious metals:
- Spot Silver: Declined by 0.2% to 66.03 dollars
- Platinum: Lost 0.8%, trading at 1,805.53 dollars
- Palladium: Fell by 0.7% to trade at 1,396.08 dollars.