Gold prices are declining, markets await US inflation data

In global markets, gold prices continue to pull back due to rising bond yields and increasing inflation expectations. As of 14 July 2026, an ounce of gold is trading at 4,015 dollars, while a gram of gold is trading at 6,070 TL. Having lost approximately 2.5 percent in value compared to the start of the week, investors' attention in gold has shifted to the US inflation data to be released today.

Geopolitical tensions in the Middle East and oil prices surpassing 80 dollars have heightened global inflation concerns and US bond yields. While the US 2-year bond yield reached its highest level in 17 months at 4.29 percent, the 10-year yield also exceeded 4.60 percent. The increasing opportunity cost of gold, which has no yield, put pressure on prices.

The Consumer Price Index data for June, to be released today, will be determinant for the Federal Reserve's (Fed) interest rate policy. Analysts state that if inflation comes in above expectations, rate cuts could be delayed; otherwise, buying support for gold could emerge. In the short term, 3,940 dollars is monitored as support for an ounce of gold, while 4,200 dollars is seen as resistance.