- BIST10012,076-0.35%
- USD49.39+0.05%
- EUR55.30+0.16%
- GOLD4,179.10+1.73%
- INTEREST37.00%-1.00
- BITCOIN80,976-0.73%
- October 15, 202615°
- BIST10012,076-0.35%
- USD49.39+0.05%
- EUR55.30+0.16%
- GOLD4,179.10+1.73%
- INTEREST37.00%-1.00
- BITCOIN80,976-0.73%
- October 15, 202615°
Gold falls to $4,079 an ounce as silver drops 5.71%
In the spot market, gold fell 1.80% yesterday evening to $4,079 an ounce after U.S. inflation data exceeded expectations, dropping below the critical $4,100 support level. Silver also lost 5.71%, declining to $55.79 an ounce.
In the spot market, gold fell 1.80% to $4,079 an ounce as of 8:10 p.m. Türkiye time yesterday. Gold thus slipped below the $4,100 support level, considered a technically critical threshold, and ended its third consecutive trading day lower.
After surpassing $5,400 at the end of January and breaking its all-time record, gold has lost approximately a quarter of its value during the period since then. Silver also fell 5.71% to $55.79 an ounce.
U.S. inflation affected interest-rate expectations
In the United States, the Consumer Price Index (CPI) rose 0.6% month over month and 3.7% year over year in September. While the annual increase exceeded expectations, monthly inflation reached its highest level in five months and annual inflation its highest level in four months.
The index for gasoline prices rose 9.1% month over month in September, accounting for more than half of the monthly increase in the CPI. Core CPI, which excludes volatile energy and food prices, rose 0.3% month over month and 2.6% year over year, exceeding expectations.
The data, pointing to accelerating inflation, weakened expectations that the U.S. Federal Reserve would cut or hold its policy rate steady. The figures also strengthened speculation that interest-rate hikes could continue.
In this environment, investors turned to government bonds instead of precious metals, which do not generate interest income. Activity in the bond market put pressure on demand for gold.
Bond yields and the dollar index rose
U.S. long-term bond yields rose after the inflation data. The yield on the 10-year Treasury note rose 11 basis points to 5.33%, while the yield on the 30-year Treasury bond increased 7 basis points to nearly 5.63%.
The dollar index, which measures the value of the dollar in global markets, also rose 0.7% to 102.87. At this level, the index reached its highest point since April 2025.
The economic data strengthened expectations that the U.S. Federal Reserve could keep monetary policy tight for longer to bring inflation back to its target. This expectation increased selling pressure in commodity markets.
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