The gram price of gold started to rise.

The gram price of gold, which started the new day with an increase, is currently at 2,463 lira, which is 0.2% above the previous closing level as of 10:30 am. At the same time, the quarter gold is being sold at 4,060 lira, and the republic gold is being sold at 16,170 lira. The price of an ounce of gold is currently trading at $2,325, down 0.1%.

UNCERTAINTY CONTINUES IN ASSET PRICING DUE TO MIXED SIGNALS FROM YESTERDAY'S ANNOUNCED DATA

Analysts state that uncertainty continues in asset pricing due to mixed signals from the data announced in the US yesterday, and today, the focus of investors is on the core personal consumption expenditures price index data, which the Federal Reserve (Fed) considers as an inflation indicator. While Gross Domestic Product (GDP) in the US increased by 1.4% in the first quarter of the year as expected, the lowest growth rate since the second quarter of 2022 was recorded. In the May estimates, the country was projected to grow by 1.3%.

Analysts noted that the data indicating a slowdown in the country's economic growth compared to the previous quarter strengthened investors' expectations for an interest rate cut this year, and stated that the data to be announced today could increase volatility in the markets.

70% PROBABILITY OF THE FED CUTTING INTEREST RATES IN SEPTEMBER

While the statements of Fed officials were also followed, Atlanta Fed President Raphael Bostic stated that he continues to believe that a rate cut is likely in the fourth quarter of the year, taking into account all conditions. Fed Board Member Michelle Bowman reiterated that the Fed is not ready to support an interest rate cut in an environment where inflation pressures are still high. Following these developments, in the money markets, the probability of the Fed cutting interest rates in September is priced at 70%, and in November, it is priced at 95%. The possibility of a second interest rate cut at the bank's December meeting is still priced at 75%.