The US non-farm payroll data released last day, Friday, was expected to play a role in the level at which gold prices will close the week. While the data for January were released in the USA, the prices of ounce and gram gold remained stable. Meanwhile, Gold and Money Markets Specialist İslam Memiş shared his thoughts on the market. According to the expert, the price of an ounce of gold will first experience a retracement of $ 1,750 – $ 1,650, and then experience an increase. cryptocoin.com We share the details as…
Islam Memiş thinks that the gold price can be withdrawn up to 750 liras
Many experts think that gold may rise in the long run due to global inflation concerns. However, regardless of the long-term forecasts, it is stated that a pullback may be seen in the price for a short time. One of the experts who made such a prediction is Gold and Money Markets Specialist Islam Memiş. Memiş draws attention to the relationship between the price of an ounce of gold, the expected interest rate hikes from the US Federal Reserve (FED) in March, and inflation concerns.
According to Memiş, who argues that an ounce of gold will fall under pressure with the FED’s rate hike, therefore, the yellow metal can be pulled back to $1,750 or even $1,650. He also states that gold prices have not yet priced in rising inflation, that is, prices act independently of inflation concerns. He argues that if inflation is pricing in the precious metals market and geopolitical risks continue to increase, gold could rise as high as $2,000 an ounce. Islam Memiş emphasizes that the price increases in the short term will not be permanent, and that a level of 750 liras can be expected until the end of February under a gram.
The latest situation in prices after the US employment data
Meanwhile, the eyes of the markets were on the non-farm employment data announced in the USA. While the general expectation of economists was an increase of 125,000, the data exceeded expectations and was updated to 510,000. However, after the announcements, prices did not change as expected. The price of gram gold closed the week around 788 liras. The ounce price of gold, on the other hand, rose by about 2 dollars from the previous close, and reached 1,808 dollars.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.