How did gold and the dollar start the day?

Gold gram price, which followed an upward trend parallel to the rise in the price of gold yesterday, completed the day at 2,756 liras with a 0.4% increase compared to the previous closing. The gram price of gold, which started the new day with an increase, is currently at 2,761 liras with a 0.3% gain compared to the previous closing as of 09:45. At the same time, quarter gold is sold at 4,560 liras and Republic gold is sold at 18,170 liras. The price of gold per ounce, which followed a buying trend yesterday, is currently trading at $2,525 with a 0.4% increase compared to the previous closing.

Uncertainties about the size of the interest rate cut expected to be made by the Federal Reserve next week continue ahead of the inflation data to be announced in the US today. It is expected that signals from the Consumer Price Index (CPI) will increase volatility in the markets, while recession concerns continue to affect asset prices.

DOLLAR STARTS THE DAY WITH A SIDEWAYS TREND

The USD/TRY is currently trading at 34.0340, just below the previous closing, after starting the day with a sideways trend as of 10:10. At the same time, the EUR/TRY is sold at 37.5890 with a 0.2% increase, and the GBP/TRY is sold at 44.5440, parallel to the previous closing. The dollar index is currently at 101.4, 0.3% below the previous closing.

Uncertainties about the size of the interest rate cut expected to be made by the Federal Reserve next week continue to affect asset prices ahead of the inflation data to be announced in the US today. Analysts said that if the softening trend in inflation is faster than expected, it could open the door to a 50 basis point interest rate cut for September.