Yesterday, the price of gold reached a record high of 4,381 dollars, drawing the attention of investors. However, as concerns about the trade war between the United States and China diminished, investors took this record level as an opportunity to engage in profit sales. As a result, gold prices dropped by approximately %2.6, falling to 4,245.12 dollars.
Starting the new year at a level of 2,623 dollars, gold gained 1,758 dollars in value with the record level it reached yesterday. The demand for safe-haven assets in the markets was significantly influenced by economic uncertainties, rising geopolitical tensions, and low inflation. Additionally, the increase in central banks’ gold purchases and strong ETF inflows also played a significant role during this period.
According to current market analyses, another significant development attracting investors’ attention is the U.S. inflation data that will be released on Friday. Experts predict that the annual inflation rate in the world's largest economy will be %3.1 in September. This situation supports investor expectations that the U.S. Federal Reserve (Fed) will lower interest rates by 25 basis points in its upcoming meeting next week.
Moreover, U.S. President Donald Trump, ```
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