24.10.2025 16:20
The inflation data for September released in the U.S. came in below expectations, creating volatility in the gold market. Before the data was announced, gold rose from $4,061 to $4,092 per ounce, and then stabilized around $4,085. Analysts indicate that low inflation strengthens the likelihood of a rate cut by the Fed, which could support gold prices.
The inflation data for September in the USA has been released. The Consumer Price Index (CPI) increased by 0.3% on a monthly basis and 3% on an annual basis, falling short of expectations. Following the data, the dollar index declined, while there were short-term increases in the gold and cryptocurrency markets.
FELL SHORT OF EXPECTATIONS
The U.S. Department of Labor announced the delayed September Consumer Price Index (CPI) data today due to the federal government shutdown.
- Monthly CPI: 0.3% (Expectation: 0.4%)
- Annual CPI: 3% (Expectation: 3.1%)
Energy prices increased by 1.5% in September, while the rise in food prices was limited to 0.2%.
CORE INFLATION ALSO LAGGED BEHIND
Core inflation, which excludes volatile food and energy items, also fell short of market forecasts.
- Monthly core CPI: 0.2% (Expectation: 0.3%)
- Annual core CPI: 3% (Expectation: 3.1%)
These results are a critical indicator for the Federal Open Market Committee (FOMC) meeting scheduled for October 28-29.
MARKETS' INITIAL REACTION
- With the announcement of the data, the dollar index (DXY) fell from 98.85 to 98.24, then attempted to stabilize around 98.60.
- Gold prices also reacted with an increase; the price of gold rose from $4,061 to $4,092, then traded around $4,085.
- Bitcoin strengthened, rising from $111,000 to over $112,000.
SHORT-TERM RISE IN ISTANBUL STOCK EXCHANGE
In Turkey, the Istanbul Stock Exchange started the day with a positive trend. Initially, purchases accelerated as the U.S. inflation was announced below expectations, but the index later declined again, falling below 11,000 points. As of 15:50, the BIST 100 index was trading at 10,977 points.