New record for gold

Low inflation data from the US had an impact on gold prices. Gram gold reached a historical high.

Gold prices continue to be volatile. The announcement of monthly inflation of -0.1 percent and annual inflation of 3 percent in the US has increased expectations of a rate cut from the Fed.

As the Fed’s 2 percent inflation target is gradually approached, it is expected that the Fed will cut interest rates in September.

GOLD IS VALUING

It is estimated that hot money will shift to other investment areas with the Fed’s interest rate cut.These also include gold investments.

The ounce of gold started the day at $2411. The lowest level during the day was $2401 and the highest level was $2420. It is currently traded at $2418.

Gram gold started the day at 2561 lira. The lowest level during the day was 2550 lira and the highest level was 2573 lira. It is currently being traded at 2571 lira. The historical high level of gram gold was 2573.

In the Grand Bazaar, gram gold is bought for 2,565 liras and sold for 2,574 liras.

Source: bigpara.hurriyet.com.tr

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