Gold, which had a very critical week last week, is entering a new week. cryptocoin.com As we reported throughout the week, the US Federal Reserve increased the policy rate by 25 basis points. However, this increase has been expected for some time. On the other hand, the Central Bank of the Republic of Turkey (CBRT) decided to keep the interest rate constant. So what’s next now? Gold and Money Markets Specialist Islam Memiş shared his comments on gold and dollars on his Youtube account. Here are the details…
Gold and Money Markets Expert shared the levels he expected
In a video he shared on his Youtube account, İslam Memiş shared the levels that could be buying opportunities for gold and dollars and made a general assessment of the market. Islam Memiş pointed out that the week ended calmly and we are now facing a market that is less focused on the Russia-Ukraine war.
The expert said that gram gold is stuck in the 900-920 lira range. However, he stated that this week, low levels of 895 liras were seen for the first time in gram gold/TL parity due to the declines in gold to $1.907 an ounce. The expert stated that purchases above 900 lira are not suitable, and that he can evaluate the 850 and 900 lira range as a gradual buying opportunity. However, he pointed out that the trend may change if there is an escalation in geopolitical risks or a situation that no one has foreseen.
Expert: Relax on the weekend
While conveying that the precious metal forecast for 2022 has not changed, İslam Memiş stated that gold has regressed to $ 1,907 per ounce, showing that upward movements are temporary. Memiş points out that he thinks the $1,900 level is high, so he maintains the expectation of 1,800 lira. However, apart from these decreases, he states that he maintains his general forecast on an annual basis. The expert’s long-term forecast for gram gold was 1,450 liras, and $2,150 per ounce.
On the other hand, if there is no tension at the weekend, Islam Memiş pointed out that we can start the new week calmly, and points out that negative news usually surface on weekends and that there can be serious information pollution in social media. However, he argues that it is necessary to be comfortable against the false news that came over the weekend.
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