The gram price of gold started to rise.

The gram price of gold, which started the new day with an increase, is currently at 2,431 lira, 0.2% above the previous closing level, as of 09:45. In the same minutes, quarter gold is sold at 4,060 lira, and republic gold is sold at 16,190 lira. The price of an ounce of gold is currently trading at $2,300, up 0.1%.

FOCUS SHIFTS TO MONETARY POLICY DECISIONS IN THE COUNTRY

While a mixed trend is observed in asset prices ahead of the growth data to be announced in the US, attention in the country has turned to the monetary policy decisions of the Central Bank of the Republic of Turkey (CBRT). As clues about the steps the Federal Reserve (Fed) will take in the future continue to be sought, it is expected that the Gross Domestic Product (GDP) to be announced in the country today will provide a signal about the state of economic activity. Analysts reminded that Fed officials continued to provide "cautious" guidance throughout the week and said that after the growth data, the focus of investors also shifted to the personal consumption expenditure data, which the Fed considers as an inflation indicator, to be announced tomorrow.

In the second estimates regarding the GDP data for the January-March period published by the US Department of Commerce, it was projected that the country's economy grew by 1.3% in the first quarter. Ahead of the growth data in the US, the possibility of a rate cut by the Fed in September is priced at 68%, and in November at 97%. The possibility of a second rate cut by the bank at its December meeting after a possible rate cut remains at 73%.

EXPECTATION IS FOR THE POLICY RATE TO REMAIN AT 50%

Today, in addition to the CBRT's interest rate decision in the country, analysts stated that the economic confidence index and weekly money and banking statistics will be followed, and in the US, a busy data agenda, including growth data, will be followed. From a technical perspective, analysts reported that the support levels for the price of an ounce of gold are at $2,280 and $2,250, while the resistance levels are at $2,350 and $2,380.

All economists participating in AA Finance's expectation survey expect the CBRT to keep the policy rate at 50% in the Monetary Policy Committee (MPC) meeting.