What is the current situation of gold and dollar?

The gram price of gold is trading at 2,523 liras after starting the day with an increase. Yesterday, the gram price of gold tested below 2,500 liras, parallel to the decrease in the ounce price, and ended the day at 2,508 liras with a decrease of 0.84% compared to the previous closing. The gram price of gold, after starting the last trading day of the week with an increase, is currently at 2,523 liras with an increase of 0.69% compared to the previous closing at 10:10. At the same time, the quarter gold is sold at 4,210 liras and the Republic gold is sold at 16,775 liras.

The ounce price of gold completed the day at 2,364 dollars, 1.37% below the previous closing, while it is currently trading at 2,370 dollars with a 0.24% increase compared to the previous closing. The US economy, growing by 2.8% in the second quarter of this year, supports the expectation that the US Federal Reserve can end the fight against inflation with a "soft landing" and not harm the economy.

The number of interest rate cuts that the Fed will make this year continues to be one of the main agenda items that occupy investors. Pricing in the money markets indicates that the Bank is expected to make 3 interest rate cuts starting from September. While bond markets continue their narrow range movement with these developments, the US 10-year bond yield is currently at 4.25% and the dollar index is at 104.3. Data released in the US and news flow regarding the US presidential elections continue to have an impact on commodity prices, especially gold.

WHAT IS THE CURRENT SITUATION OF THE DOLLAR?

The dollar/TL is trading at 33.1220 after starting the day with an increase. Yesterday, the dollar/TL, which followed an upward trend, ended the day at 32.9500, 0.37% above the previous closing. The dollar/TL, after starting the last trading day of the week with a gain in value, is currently trading at 33.1205 with a 0.51% increase compared to the previous closing at 10:30. At the same time, the euro/TL is sold at 35.9350 with a 0.15% increase and the pound/TL is sold at 42.5880 with a 0.11% increase.

The dollar index is currently at 104.3, just above the previous closing. The US economy, growing by 2.8% in the second quarter of this year, supports the expectation that the US Federal Reserve can end the fight against inflation with a "soft landing" and not harm the economy.

The number of interest rate cuts that the Fed will make this year continues to be one of the main agenda items that occupy investors. Pricing in the money markets indicates that the Bank is expected to make 3 interest rate cuts starting from September.

While bond markets continue their narrow range movement with these developments, the US 10-year bond yield is currently at 4.25%. Data released in the US and news flow regarding the US presidential elections continue to have an impact on asset prices.

Analysts stated that today, personal consumption expenditures, personal income and spending, and the University of Michigan consumer confidence index data will be followed in the US, and from a technical perspective, the resistance levels of 105 and 106 and the support levels of 104 and 103 stand out in the dollar index.