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Home » Turkish April Inflation at 3% Monthly, Stood at 37.86% Annually

Turkish April Inflation at 3% Monthly, Stood at 37.86% Annually

adminBy adminMay 5, 2025 Startups No Comments2 Mins Read
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Gold prices firmed on Monday, supported by a softer dollar, as investors awaited further details on the US-China trade relations, along with the Federal Reserve’s policy meeting due later this week.

Spot gold gained 0.5% to $3,256.85 an ounce, as of 0416 GMT. US gold futures rose 0.7% to $3,265.10.

The dollar was down 0.3% against its rivals, making gold more attractive for other currency holders.

“The US dollar is looking subdued ahead of the Fed meeting this week which is enabling gold to take a mild run higher,” KCM Trade’s Chief Market Analyst Tim Waterer said.

“We may see gold continue to operate in the $3,200-$3,350 range ahead of the Fed meeting. However, any new headlines on the trade deal could cause volatility to tick up once again.”

The market’s focus will be on the US central bank policy decision and speeches by several Fed officials due this week, for insights into future monetary policy trajectory.

Traders are now expecting 80 basis points of rate cuts this year starting in July, following the US Labor Department’s report on Friday showing larger-than-expected job additions in April.

Non-yielding gold acts as a hedge against global uncertainty and inflation and tends to thrive in a low-interest-rate environment. US President Donald Trump said he will not remove Jerome Powell as Fed Board Chairman before his term ends in May 2026, while reiterating his call for the Fed to cut interest rates.

Trump on Sunday said the US was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal.

Chinese markets are closed for the Labor Day holiday from May 1-5 and will resume trade on Tuesday, May 6.

Spot silver rose 0.5% to $32.14 an ounce, platinum fell 0.2% to $957.77 and palladium gained 0.2% to $955.28.



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