SHAFAQNA TURKEY – Money and commodity markets continue to shape the direction of US economic development. On Friday last week, gold reversed higher as US nonfarm payrolls data came in below expectations.
Gold prices, which during the week showed an upward trend, rose sharply after the publication of data on inflation in the United States over the past day.
Inflation in the US, declining for the 12th month in a row in June, was below market expectations.
According to the US Department of Labor, consumer prices rose 3 percent in June compared to the same month last year. Market expectations were that inflation, which stood at 4 percent the previous month, would ease to 3.1 percent.
Thus, consumer prices fell to their lowest level since 2.6 percent in March 2021.
An ounce of gold that started the day before at $1932 rose to $1959 before closing at $1957.
The price per gram of gold, which opened yesterday at 1620 liras, broke a record, rising to 1647 liras, influenced by the rise in ounces of gold after lower inflation in the US. A gram of gold ended the day at 1,644 lira.
Starting from the fourth trading day of the week at the price of 1957 dollars, an ounce of gold rose to 1962 dollars and tested the monthly maximum. An ounce of gold is currently trading at $1,956. The lowest level in 1955 was observed during the day.
Starting today at 1644 lira, a gram of gold has broken the all-time record by seeing 1651 lira. Gram gold is currently trading at 1646.
- Expert name alerted, do not stay indoors
- Huge rise in 12-month current account deficit
- Cryptocurrency Markets Decline After Powell Led By Bitcoin
- The most important precaution against infections
- Erdogan: Minimum wage to rise in July
- Scaramucci: 2023 will be the year of Bitcoin
- Message from Swedish Minister Cavusoglu “Take Concrete Steps” – News Details
- Beware! A 270kg spaceship could land on your head! – News details
- Attention tea and coffee lovers!
- Gasoline is on the way!