Latest status in gold prices: Oz and gram gold are on the rise again

Gold prices showed an increase toward $4,650 per ounce, largely making up for the losses experienced in the previous session. Global markets have turned their eyes to the Fed's monetary policy and the Jackson Hole symposium.

Global Markets and Fed Expectations

Investors continue to evaluate the monetary policy outlook of the Fed ahead of the critical meeting to be held next month.

The fact that US PCE prices increased above expectations in July and remained above the target strengthened expectations regarding interest rates.

Jackson Hole Symposium and Markets

Market participants are closely tracking the statements that Fed Chair Kevin Warsh will make on Friday at the annual Jackson Hole symposium.

Clear guidance regarding the central bank's September policy decision is not expected at this stage.

Devaluation Trade and Imports

Gold is hovering near its three-month high, supported by investors seeking protection against US debt crisis and weak dollar risks.

On the other hand, China's net gold imports through Hong Kong increased by 11 percent month-on-month in July due to strong investment demand.

Current Oz Gold Levels

Oz gold started the day at $4,605 and saw a lowest level of $4,600 during the day.

Reaching a high of $4,643 during the day, oz gold is currently trading at $4,619.

Current Gram Gold Levels

Gram gold started the day at 7,107 liras and the lowest level of the day was recorded as 7,105 liras.

Having reached the highest level of the day at 7,186 liras, gram gold is currently finding buyers at 7,149 liras.