Gold prices near record highs – Sözcü

Although gold prices rose 1.7% per ounce yesterday, they fell slightly today due to profit-taking, but are still close to their all-time highs.

Gold prices are supported by geopolitical risks that remain in effect in the market, continued central bank gold buying and an environment where we expect lower real returns.

Key data will be monitored

Traders will be watching data that could influence the Federal Reserve’s monetary policy outlook, including U.S. inflation data due after a week of volatile trading.

Investors will be watching a series of U.S. economic data this week that could provide clues to the Fed’s future actions. The market is divided on whether the Fed will cut interest rates by 25 basis points or 50 basis points in September.

If there is no danger on the inflation front, the Fed may accelerate the pace of rate cuts to prevent recession fears. Lower interest rates could support higher gold prices.

Traders expect interest rates to be cut by 100 basis points this year.

Gold price update

Affected by this, as of 9 am today, the price of gold per ounce fell 0.3% to US$2,000,462.

In the same minute, Gram Gold was traded at 2,000 650 TL, Quarter Gold was traded at 4,00333 TL, and Republic Gold was traded at 17,00280 TL.