What is the current situation of gold and dollar?

The gram price of gold is currently at 2,658 lira with a decrease of 0.40 percent compared to the previous closing, after starting the day with a decrease. At the same time, quarter gold is being sold at 4,400 lira and Republic gold at 17,540 lira. The ounce price of gold completed the day at the highest level of all time with 2,472 dollars, moving in an upward trend yesterday, and is currently at 2,464 dollars, 0.30 percent below the previous closing.

As inflation concerns around the world gradually give way to recession fears, the volatility in asset prices is limited by the fact that expectations of a "soft landing" for the economy in the US have not completely disappeared.

It is estimated that the inflation data to be announced today and tomorrow in the US will have an impact on the direction of the markets, while the uncertainty about the size of the interest rate cut that the Federal Reserve (Fed) will make in September continues to be priced in.

While it is predicted that there is a 57 percent chance that the Fed will cut interest rates by 50 basis points in September in the money markets, expectations are expected to reshape after the inflation data. With these developments, the US 10-year bond yield is balanced at 3.90 percent, and the dollar index is at 103.1. Analysts said that the US 10-year bond yields continue to have an impact on the course of precious metals, especially the ounce price of gold.

DOLLAR STARTS THE DAY WITH A SIDEWAYS TREND

The USD/TRY is trading at 33.5614, just below the previous closing, as it started the new day with a sideways trend at 10:15 am. At the same time, the EUR/TRY is being sold at 36.6890, just above the previous closing, and the GBP/TRY is being sold at 42.9570 with a 0.20 percent increase. The dollar index is currently at 103.1, just above the previous closing.

As inflation concerns around the world gradually give way to recession fears, the volatility in asset prices is limited by the fact that expectations of a "soft landing" for the economy in the US have not completely disappeared. It is estimated that the inflation data to be announced today and tomorrow in the US will have an impact on the direction of the markets, while the uncertainty about the size of the interest rate cut that the Federal Reserve (Fed) will make in September continues to be priced in.

While it is predicted that there is a 57 percent chance that the Fed will cut interest rates by 50 basis points in September in the money markets, expectations are expected to reshape after the inflation data.