Investors are curious about gold prices. They are researching how much a gram of gold and a quarter of gold cost today. So, what are the gold prices today? How much is a gram of gold and a quarter of gold? Current gold rates for October 11, 2024…

Gold prices rose with the latest data indicating expectations of a future interest rate cut by the US Federal Reserve (Fed) next month. The price of an ounce of gold started the day around $2,653 with a 0.88% increase. Prices had reached a historical peak of $2,685 last month. Gram and quarter prices followed the performance of an ounce. Gram gold found buyers at 2,923 Turkish Liras. Quarter-gold also changed hands at the level of 4,780 Turkish Liras. In the US, inflation exceeded expectations at 2.4%. Nevertheless, annual inflation hit its lowest level in 3.5 years at 3.5%. Monthly inflation showed an increase of 0.2%. Market expectations were that inflation would be 0.1% monthly in September. Annual inflation was predicted to be 2.3% during this time. Despite inflation being higher than expectations, reaching the lowest level since February 2021, and initial unemployment insurance claims surpassing expectations, supported gold prices. The number of first-time unemployment insurance applicants in the week ending on October 5 increased by 33,000, reaching 258,000. This figure was recorded as the highest level of the year.

Analysts also pointed out that the increase in unemployment insurance claims was partly influenced by Hurricane Helene and labor strikes.

Producer prices did not show any change on a monthly basis in September. The Producer Price Index (PPI) increased annually by 1.8%, exceeding expectations. Expectations of a 50 basis point interest rate cut by the Fed in November diminished. Markets priced in a 25 basis point interest rate cut with an 88% probability.