Fed Pressure on Gold Prices: Gram Gold Drops to 7,303 Liras

Gram gold, which closed at 7,380 liras yesterday, gave back some of its gains today, falling to 7,303 liras.
In parallel with the 1% loss in the price of ounce gold, quarter gold is finding buyers at 12,330 liras, and Republic gold is trading at 48,950 liras in the domestic market.
In global markets, the price of ounce gold has retreated to the level of 5,183 dollars.
Interest Rate Messages from Fed Officials Hawkish statements from Fed officials regarding interest rate policy were effective in the price pullback.
Fed Board Member Christopher Waller stated that interest rate cuts could be paused if labor market data remains strong.
These messages strengthened expectations in the markets that the Fed will keep interest rates steady next month, while bringing the possibility of the first rate cut in July to the forefront.
The global appreciation of the dollar is also increasing the pressure on gold.
Geopolitical Developments and Economic Calendar While the slight decrease in regional tension following the meetings between the US and Iran in Oman has reduced uncertainty in the markets, a cautious stance continues.
Investors are focused on statements to be made by global central bank governors today.
Speeches by Bank of England Governor Andrew Bailey and European Central Bank President Christine Lagarde will be closely monitored.
Additionally, household inflation expectations in the domestic market and the house price index data in the US are on the markets' radar.