Gold and Money Markets Specialist İslam Memiş announced his new forecasts for silver and gold prices. In addition, he evaluated the latest developments affecting the market. cryptocoin.com We convey the expert’s explanations…
Islam Memiş: I expect these levels for gold price
In a column he shared on gold, İslam Memiş states that gold is the best choice in terms of hedging against inflation, noting that gram gold has gained 754 percent in 10 years and 4.5 percent in the last week. He also underlines that precious metal is a value that no country can use. Pointing out that the International Monetary Fund and the World Bank recommend using gold as a monetary reference, investors need to calculate the value of the properties or vehicles they buy in gold.
In addition to his praise for gold, the expert also conveyed his price expectation in another article. According to Islam Memiş, the price of gram gold managed to rise above 800 liras with the support of ounce gold. However, he underlined that he does not think that the rise is sustainable. This week, he stated that his target is in the 790 and 820 pounds range. He said that in terms of the value of gold, it will be in the focus of the levels of 1,840 to 1,860 dollars. Although these are his short-term thoughts, he thinks that by the end of the year, gram gold will see the levels of 1.450 and an ounce of gold 2.150 dollars. At the time of writing, gram gold is around 832 liras, while the price of ounce gold changes hands around $1.896.
What does Islam Memiş say about silver?
Although the expert expects a rise in grams and ounces in the long term, he made more positive statements about silver. Memiş stated that the current price of gram silver is 10 liras, but he does not think that the price will remain at these levels under the current conditions. Drawing attention to the tension between Russia and Ukraine, he thinks that the gram value of silver will increase along with the ounce of gold in the “in case of occupation”. He estimates that the gram price of silver could climb up to 20 liras by the end of the year. He thinks the price of an ounce of silver could reach $40 by the end of the year.
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