Rapid recovery process in gold prices and current levels

Recovering after a three-day decline, gold prices moved upward alongside statements by U.S. President Donald Trump, the retreat of the dollar, and the Fed's inflation messages.

Gold activity in global markets

Rising by about 1 percent in the previous session to end a three-day losing streak, spot gold managed to maintain its course close to the $4,400 threshold on Thursday.

While spot gold followed a flat movement at $4,384.21, oz gold rose up to $4,434.21, drawing attention in the markets.

Trump's statements and energy markets

Statements made by U.S. President Donald Trump regarding the recent attacks on Iran played an effective role in the recovery of gold.

Trump indicated that the U.S.'s recent attacks are not expected to turn into a prolonged military operation.

Course of the dollar and other precious metals

Following the sharp appreciation in the Japanese yen, the retreat of the dollar provided significant support to precious metals, and gold gained value on Wednesday.

During the same period, silver traded down 0.1 percent at $65.26, while platinum remained flat at $1,760.62.

Fed expectations and inflation data

Expectations regarding the Fed's subsequent steps continue to be closely monitored in terms of the direction of gold.

New York Fed President John Williams stated that there are signs that inflation in the U.S. continues to ease as the impact of tariffs diminishes.

Labor market and employment data

Recent data from the U.S. labor market also played a role in easing the pressure for rate hikes on the Fed.

According to the latest data released, private sector employment increased by 38,000 in August.

Latest situation in domestic gold prices

Domestically, gold prices continued their upward trend in parallel with global markets and became the focus of investors.

While gram gold traded at 6,880 TL with a 1.02 percent increase, the selling price of 22-karat gold bracelets was 6,278 TL.