After the Inflation Data, Gold Focused on the FED Calendar

After the inflation data, gold focused on the FED calendar. Gram gold looks cramped in the narrow band.

Gold was mixed as US inflation data beat expectations, while investors focused on when the Fed will end its monetary stimulus program. Gram gold, on the other hand, moved sideways after the decline in the USD/TL exchange rate balanced the rise in gold prices. Inflation in the USA increased above expectations to 5.4 percent year-on-year in June, while it was 0.9 percent on a monthly basis. Inflation in the US was last above 5 percent in August 2008.

Ounce Gold

Gold, which entered the new week around $1,803 with delta variant concerns, was moving around $1,810 on Tuesday before the inflation data. After the inflation was announced, gold rose once again and reached $ 1,812 after a slight decline.

Gram Gold

Gram gold is hovering in a narrow price range as a result of the balancing of USD/TL exchange rate and global gold prices. With the rise in global gold prices last week, gram gold, which climbed up to 508 TL, has been holding around 502 TL since the beginning of the week.