Gold prices on global markets on the rise: How much are gram and quarter gold?
Spot gold increased by 0.3% to reach $4,412.84 as markets await US inflation data and Fed decisions.
Spot gold gained 0.3% in value to rise to the level of $4,412.84. While gram gold trades at 6,875 TL, investors have focused on inflation data coming from the US and the steps to be taken by the US Federal Reserve.
Latest Status in Gold Prices
Spot gold reached the level of 4,412.84 dollars with a 0.3% increase. US gold futures contracts for December delivery declined by 0.1% down to 4,457.10 dollars.
Current Gold Selling Figures
Gram gold finds buyers at 6,875 TL, quarter gold at 11,207 TL, and Republic gold at 44,686 TL. Ounce gold, on the other hand, trades around 4,407 dollars.
US Inflation Data Expected
Eyes in the gold market have turned to the inflation data that will signal the monetary policy of the US Federal Reserve. The Producer Price Index data is awaited.
Fed's Interest Rate Expectations
While the vast majority of economists predict that the Fed will not change interest rates, some scenarios in the markets are also pricing in the possibility of an interest rate hike.
Impact of Dollar's Weakening
Analysts state that gold is mainly finding support from the weakening of the dollar, and despite US interest rates rising, the dollar is not showing a prominent appreciation.
Public Debt and Fiscal Concerns
The total public debt of the US exceeding 40 trillion dollars for the first time last month increased risks regarding the country's fiscal outlook and long-term confidence.
Other Precious Metals
While a mixed outlook is observed in other precious metals, spot silver rose by 0.2%, whereas platinum recorded a decline of 0.6%.