A new period of rise in gold prices
With the increase in global risks and the decline in bond yields, spot gold saw $4,175 and gram gold saw 6,652 TRY.
Gold prices, which retreated briefly following US inflation data, have climbed back up to reach new levels under the influence of global risks and falling bond yields.
The Reason for the Rise in Markets
Gold prices, which experienced a brief pullback following US inflation data, have surged sharply once again with the rise in global risks and the decline in US Treasury bond yields.
Spot and Gram Gold Levels
As safe-haven demand strengthened, spot gold exceeded $4,175 in international markets, while gram gold domestically reached the 6,652 TRY level.
Bond and Dollar Impact
The decline in US Treasury bond yields and the weakening of the dollar reduced the pressure on gold, which does not yield interest.
Details of Inflation Data
The Producer Price Index in the US rose by 1.3 percent monthly and 6.3 percent annually in September, recording its strongest monthly increase since March 2022.
CPI Exceeded Expectations
The Consumer Price Index came in above expectations, increasing by 0.6 percent monthly and 3.7 percent annually in September.
Fed Policies and Pricing
Despite persistently high inflation, markets view the probability of the US Federal Reserve raising interest rates in October as low, while continuing to price in December probabilities.
Geopolitical Risks and Safe Haven
Escalating clashes between Saudi Arabia and Houthi forces in Yemen, along with rising risks across the Middle East, were among the main factors supporting investors to turn to gold as a safe haven.