Gold tests $4,450 as gram hits 6,834 TL

Gold prices probed a key level around $4,450 per ounce, while spot gram gold climbed to 6,834 TL, after US data shifted expectations for Federal Reserve policy.

Officials’ data showed US July employment declined unexpectedly, while inflation came in line with forecasts. Following those releases, market pricing reduced the implied probability of a September Federal Reserve rate increase to about 40%.

US data shifts rate expectations

Federal Reserve

The move in the ounce price placed gold at an 11-week high, according to the data cited in the market update. Investors often track rate expectations closely because higher policy rates can raise the opportunity cost of holding non-yielding assets such as gold. With the market-implied path for tighter policy easing after the US releases, gold found support as traders reassessed the near-term outlook for interest rates. Gram gold rises to 6,834 TL In the domestic spot market, gram gold increased to 6,834 TL, described as the highest level in roughly three months. Data showed the rise followed through as the weaker dollar and softer rate-path pricing filtered into local pricing.

Market participants also focused on the technical significance

Local dealers reported firmer demand even at the higher levels, pointing to continued interest despite the recent run-up. Market participants also focused on the technical significance of the ounce price testing $4,450 for signals of whether the move extends.

Next catalysts: Aug. 13 trade and further US releases Traders are set to watch US trading on Aug. 13, 2026, as well as additional US economic data due later in the week. Those releases are expected to shape whether reduced expectations for a September rate increase remain in place.

For now, the market’s attention remains on whether price action around $4,450 develops into sustained momentum, and whether incoming data reinforces the repricing that followed the July employment surprise and the inflation reading that met forecasts.