The gram price of gold started to rise.

The gram price of gold, which started the day with an increase, is currently at 2,661 lira, an increase of 0.10 percent compared to the previous closing, as of 09:50. At the same time, quarter gold is sold at 4,411 lira and republic gold is sold at 17,575 lira. The price of gold per ounce moved in a downward trend yesterday and ended the day at $2,465, a decrease of 0.28 percent compared to the previous closing, and is currently trading at $2,466, just above the previous closing.



While the progress made in the fight against inflation worldwide continues to be one of the main questions for investors, the weakening labor market and inflation data indicating a slowdown positively affect risk appetite. According to the data announced in the US yesterday, the Producer Price Index (PPI) in July increased by 0.1 percent on a monthly basis and 2.2 percent on an annual basis, lower than expectations.



Analysts pointed out that these data indicate a relief in price pressures and support the focus on the slowing labor market, and that it supports possible interest rate cuts by the US Federal Reserve (Fed). With these developments, the possibility of the Fed making a 50 basis point interest rate cut next month remains strong in pricing in the money markets, and it is estimated that the bank will reduce a total of 100 basis points by the end of the year.