Gold started the day with a fall

Gram gold, which gained value in parallel with the rise in ounce gold yesterday, completed the day at 6 thousand 517 liras with an increase of 0.2% compared to the previous close.

Gram gold, which started this day with a decline, is traded at 6 thousand 452 liras, 1 percent below the previous closing, as of 09.30. As of the same minutes, quarter gold is sold for 10 thousand 625 liras, and republic gold is sold for 42 thousand 313 liras.

The US Federal Reserve (Fed) kept the policy rate stable in the range of 3.75-4% yesterday within the expectations.

Fed Chairman Kevin Warsh did not compromise the 2% inflation target in his post-decision speech. Warsh's moderate messages that the Bank does not have to raise interest rates repeatedly have had an impact on asset prices.

Yesterday, the US 10-year bond interest rate continued to remain horizontal around 5 percent, while the dollar index increased by 0.1 percent to 102.2. The appreciation of the dollar puts pressure on the ounce price of gold. An ounce of gold is traded at $4,026, down 1 percent.

On the other hand, after Warsh stated that they would follow a data-driven approach to monetary policy, eyes turned to the personal consumption expenditures (PCE) price index and growth data to be announced in the US today.

In particular, the core PCE data is expected to provide information on the course of inflation in the country, while the growth data will look for signals on the status of economic activity.

In addition, the European Central Bank (ECB) will announce its interest rate decision today. Market expectation is that the Bank will not make any changes to the 3 main policy rates today.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)