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This move reflects TCMB's commitment to a cautious monetary policy, balancing inflation control with economic risks
Multiple Chinese banks have been given new gold import quotas from the central bank, signaling renewed buying demand
The report shows that 64 percent of measures focused on boosting investment and industry
So far this year, gold prices have gained 19 percent and set a new record high of $2,483.60 on July 17
Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel
Data on Tuesday revealed that U.S. producer prices increased less than expected in July, signaling a cooling in inflation
OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May
Gold prices will likely see additional support if a softer U.S. inflation report is released, raising hopes for a larger rate cut
Progress on inflation could support gold prices to retest a new all-time high once more
CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility
The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June
Markets are now pricing in a 55 percent chance of a 50-basis-points cut in September with bets on an additional cut in December
Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023
Challenges remain in education, housing, and hotels
Gold prices rose as support for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East
Investors will closely watch the Fed's interest rate decision on Wednesday, with no change in interest rates expected
Egypt's inflation to average around 25 percent in H2 of 2024, down from 31 percent in H1
U.S. economy grew faster than expected in Q2, but inflation pressures eased, maintaining market expectations of a September rate cut
If the PCE data reveals that inflation is slowing and the Fed can cut rates in September, gold prices will likely surge
In a bid to boost demand, India slashed import duties on gold and silver from 15 percent to 6 percent
Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May
Foreign currency inflows into the local market have jumped by about 200 percent
The Central Bank wants more evidence that inflation is still on track to reach the 2 percent target by the end of 2024
The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."
