Investors who want to be protected from inflation or stay away from deposits due to negative real interest rates prefer gold, which is generally seen as a safe haven, if they do not turn to foreign currency. After the dollar/TL explosion in December 2021, gram gold prices exceeded 1,000 TL and climbed to an all-time high due to ounce gold priced in dollars, and then fell to 650 TL levels with the decline of the exchange rate. Since then, gram gold investors’ eyes have been on the ounce gold price and the Dollar/TL rate. Tuna Kaya, a well-known economist in the Turkish market, makes very ambitious forecasts for both ounce and gram gold. For details cryptocoin.com keep reading.
Ambitious forecasts for ounce gold and gram gold from the economist
Economist Tuna Kaya, in his post on the Yotube channel, states that an ounce of gold will reach the level of $ 2,000 in the coming period and estimates that it will be at the level of $ 2200-2400 in 2022. The economist explains the rationale for this estimate as follows:
No matter how much the Federal Reserve (Fed) raises interest rates in the upcoming period, ounce of gold will not stop rising. Because it protects people from inflation. There will be an upward movement under ounce. Gold will see the levels of $ 2,000 in the coming period. My estimate for the year is $2,200-2,400.
Tuna Kaya claims that gram gold, which is currently traded around 780 TL, will rise to 3,000 TL in 2023. Drawing attention to the fact that ounce of gold is priced in dollars, the economist says that if the Dollar/TL rate exceeds 14 lira, it will not be difficult to see 1,000 TL:
There are two factors on the gram gold side. One of the factors is ounce of gold and the other is dollar/TL. When the dollar/TL exceeds 14 lira, it will not be difficult to see 1,000 lira per gram.
Tuna Kaya, who stated that the increase in ounce gold he mentioned will be reflected in the gram gold and will increase it, thinks that 726 TL for gram gold is a buying opportunity. The Economist also draws attention to the following levels:
The support level under gram is 770 lira. If it drops to the level of 726 lira, it is a buying opportunity for gram gold. The 820 lira level is quite critical. If this figure is exceeded, we can see 1,000 lira levels.
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