New record for gram gold

Gram gold rose to 4,498,013 lira.

The price of an ounce of gold is $3,402.50 as of 3:42 p.m.

At the same time, gram gold is 4,489,817 and dollar is 41,0459 lira.

Investors are keeping an eye on Personal Consumption Expenditures (PCE), the US Federal Reserve's (Fed) preferred inflation indicator. The critical data will be released tomorrow.

According to CNBC-e, Kyle Rodda, financial market analyst at capital.com, commented on the rise in gold as follows:

"We're seeing very positive interest in gold because of the risks associated with the Fed's independence. We're actually looking for something stronger to push the price above the critical $3,400 level."

"The US PCE data will be very important. We are still bullish on gold. I think all the fundamentals are moving in the right direction."

US President Donald Trump has frequently said that the Fed should lower interest rates.

New York Fed President John Williams said: “Interest rates are likely to fall at some point, but policymakers need to see incoming data on the economy’s future to decide whether a rate cut next month is appropriate.”