While leaving the critical week behind, he acted more positively in precious metals than in silver gold. On the first trading day of the week, markets moved in with Fed President Powell's speech. The US Central Bank (Fed) began its relaxation cycle with a 50-base reduction, while Fed President Jerome Powell's recent messages pointed to a more cautious stance on the monetary policy trail. Fed President Powell says the Fed will not rush fast rate cuts.
On the second trading day of the week; critical 'Work Opportunities and Personnel Exchange Rate (JOLTS)', which closely concerns the employment market described from America' with over 8 million disclosures data expected, we have observed that the employment market in the United States is strong.
On the third trading day of the week; The ADP Non-Farm-Islam Leader Indicator announced from America was announced at around 143K above expectations. Jolts and ADP supported the possibility of a 0.25bp interest rate cut from the FED in November.
On the fourth trading day of the week; We started the day with inflation reports from Turkey. With inflation announced above expectations on a monthly basis, CBT interest rate discount possibilities have been pushed a bit. On the American side, the critical 'Service Purchasing Managers Index PMI' figures were announced around 55.2, in parallel with the expectations.
On the last trading day of the week; Critical employment reports from America announced. Over 254K, the Unemployment Rate was announced as 4.1% below expectations.
American Non-Farm Employment (US Nonfarm Payrolls (MoM))
U. S. Unemployed Rate (Unemployed Rate)
Teknik özet; when closing the week, ounce gold week started from $2661, towards the close of the week, 0.25 bp interest from the FED increased the probability of a discount, some value was lost in the $2653 region. On the silver side, the appearance of the improvement table in employment reports, especially in the US economy, supported industrial metals somewhat. It started in the $31.63 region at the start of the week, while it closed around $32.20 weeks on the day of the last transaction. On the other hand, precious metals will continue to be in the Middle East and in the moves of the FED. As of the week, there is an increase in demand from Turkey under the ounce of historical records. Especially because of the ithat quota, the ounce gold record breaks, while the increase in domestic demand continues to lead to price differences.
At the beginning of the week, the difference between the global markets on the basis of ounces and the Turkish market starts around $110, while on the last trading day of the week, the premium amount exceeds $130's on the basis of ounces…
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