Another record under the gram

Gold was flat as investors weighed the returns on risk appetite against new signs that the US economy is weakening.

Spot gold is trading at $1,915 an ounce. On the gram gold side, a new record was broken in the morning hours.

Gram gold, calculated over ounce gold and interbank rates, continued its climb after seeing its new historical peak with 1.607 TL, reaching a new record level of 1.612 TL.

Quarter gold is sold at 2,640 lira, and Republic gold at 10,650 lira.

The Nasdaq 100 had its best-ever performance in the first half of the year, with expectations for higher returns in the tech sector that are turning investors away from safe assets like gold.

However, US data released on Friday pointed to easing inflation, boosting optimism that the Fed’s rate hike cycle is nearing its end.

Markets will follow manufacturing purchasing managers’ indexes to be released across many economies.

It is evaluated that these data may provide more signs that central banks are controlling inflation.

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