[ad_1]
Gold prices hit a record high as expectations grew that the Federal Reserve would cut interest rates in September. An ounce of gold rose above $2,490.
The latest data from the US yesterday were in line with expectations, showing that the economy remains strong. The US retail sales data released were higher than expected, while the unemployment claims data released were lower than expected.
On the other hand, the continued momentum of geopolitical tensions also supported gold prices. China’s massive gold purchases were another factor supporting the precious metal.
As the USD/Lira exchange rate remains high, a gram of gold is trading at 2,700 TL. A quarter of gold is selling for 4,000 314 TL.
[ad_2]
Source link
