While gold prices have been breaking records in recent days and making investors happy, it is now being weighed in which direction the precious metal can go. Gold and Money Markets Specialist İslam Memiş made various valuations on this subject. Here are the details…
Gold analysis by İslam Memiş: The rise of the dollar and commodity prices may continue together
Islam Memiş states that this increase is related to inflation with the record below grams. The idea that “the rise of the dollar prevents the rise of commodities” is now over, this week’s pricing; He points out that the dollar and assets such as silver and gold go hand in hand. cryptocoin.com As we have also reported, the price of an ounce of gold went up to $ 1,868. According to the expert, this price can be pulled back to $1,800-1,810 with the realization of profit sales. Therefore, these levels can be a buying opportunity for those who want to invest in the long term.
In addition, Memiş mentions that “short attacks” that will take place above $ 1,900 an ounce by the end of the year will not be a surprise, and draws attention to the level of $ 2,000 for gold in the first quarter of 2022. In general, he expects that ounce of gold will decrease in the short-term and gain value in the long-term. The analyst, who expects a decrease in the Dollar / TL, expects this situation to be reflected in the precious metal as well. It emphasizes 575 liras as the support level under gram. Finally, Memiş uses the following expressions:
If the rate cuts continue, we may see new records in gram gold and gram silver prices, as the dollar will rise to double digits. At the end of the year, my forecast continues for 600 TL in gram gold and 10 TL in gram silver.
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