Gold Prices Await Inflation Data

Gold prices remained flat ahead of US inflation data to be released on Thursday.

Gold prices await inflation data. Gold followed a flat course on Tuesday as investors focused on inflation data to be released on Thursday. However, gram gold has also been affected by the stagnation in USD/TL exchange rate and global gold prices. The monetary policy meeting of the European Central Bank will be held on Thursday, and the last important data to be announced before the Fed's monetary policy meeting to be held on June 15-16 will be the US inflation. The continuation of the current monetary policy of the US Federal Reserve (FED) and the increase in inflation will be an important factor that will increase gold prices. The 10-year US Treasury bond yield was reduced to 1.52 percent, while the Bloomberg Dollar Spot Index decreased to 1.117.

Ounce Gold

Starting the week at the level of $ 1,890, ounce of gold, after falling to $ 1,882, recovered again and reached above $ 1,900. Displaying a horizontal appearance before the inflation data, an ounce of gold is trading at $ 1,894 in the transactions on Wednesday. Oanda Senior Market Analyst Jeffrey Halley stated the following in his statement on the subject: “The fate of gold depends on US inflation. If prices dip below $1,840 after the data, there may be concerns about a long-term rally. When the $1,920 level is passed, the new target will be around $1,960-1,965.”

Gram Gold

After starting the week around 525 TL, gram gold dropped to 521 TL. Then, following the increase in global gold prices, gram gold is trading at 524 TL on Wednesday.