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Gold prices fell slightly as investors awaited data later in the day that could have a decisive impact on the Federal Reserve’s September interest rate meeting.
Investors will be watching for consumer price data due later in the day, after U.S. producer price data reinforced expectations for tame consumer price inflation.
Markets increased the odds that the Federal Reserve would cut interest rates by 50 basis points more than expected after data from the United States yesterday showed producer prices rose less than expected in July and pointed to some easing of inflation. The Fed’s rate hike in September increased to 53% from 50%.
Gold price update
Gold prices fell 0.2% to $200,461 an ounce in the new day, following a 0.3% drop yesterday.
As of 9:00, the volume of gram gold traded was 2,000 655 TL, the volume of quarter gold traded was 4,00342 TL, and the volume of republic gold traded was 17,00315 TL.
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