Gold expert Devrim Akyıl explained his comments on the precious metal. Noting that those who remain patient in the market will win, the expert said, “those who do not give up and are patient will win.” Here are Devrim Akyıl’s comments…
Gold expert: Inflation will be permanent
Akyıl said that precious metal investors were going through a troubled period and they were affected by the sales wave in China. He also drew attention to a recent survey conducted by Bank of America on inflation, stating that 65 percent of the public believe that inflation is not permanent. However, according to Akyıl, inflation will be permanent. Saying that he also thinks that climatic problems and famine problems will begin and commodity and food prices will increase, Akyıl states that they do not resort to metals such as gold, silver and platinum because the markets do not believe in inflation.
Emphasizing that he never thought of disrupting the physical gold position, the expert name said that if the money earned in the coins and exchanges runs out, interest and precious metals will rise. He states that the $1,680 support is important in the medium term below, and there is no trend disruption at the moment. He also underlines that he will continue to carry gold in the medium-long term.
Medium-term expectations: $2,300-2,400
Devrim Akyıl also shared his gold forecasts. The expert has an expectation of $2,300-2,400 in the medium term; He says that if it breaks above $1,803, a new wave could start. He notes that while long-term investing is nice, short-term price movements can also be benefited from. Also, according to Akyıl, there is manipulation on the price of precious metals, and those who do not believe in inflation and manipulators lower prices.
Akyıl states that gold is as old as human history and points out that it is a real currency. Saying that the next direction under the physical is up, the expert name says, “Those who don’t give up and are patient will win,” and calls for “Don’t sell your gold.” cryptocoin.com As we have also reported, gold slid to $1,750 levels on Thursday and Friday. At the time of writing, the price of gold is around $1,763 an ounce, up 0.2 percent. On the other hand, gram gold is changing hands at 490 liras.
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