After the sharp rise of the dollar in the past weeks, gram gold, which broke a record by exceeding 1,000 liras, fell as a result of President Erdogan’s statements. So, what are the expectations for gram gold, which started 2022 with a rise? cryptocoin.com We present the predictions of Gold and Money Markets Specialist Islam Memiş.
Gold and Money Markets Expert conveyed his predictions:
In the last weeks of 2021, before President Erdogan announced the Currency Protected TL Time Deposit system, the dollar had seen around 18 liras. The price of gram gold also exceeded 1,000 liras. However, with the announcement of the new system, there was a setback. Whether or not the acceleration will increase in gold, which entered 2022 with a slight rise, was one of the issues on the agenda. Commenting on this issue, Gold and Money Markets Specialist İslam Memiş claims that the volatile situation in the dollar rate may continue for 3 more months.
On the other hand, Memiş talked about the month of January we are currently in in the price of gold and drew attention to the fact that the minutes of the US Federal Reserve (FED) will be announced this evening. Emphasizing the impact of the Fed’s and the Central Bank of the Republic of Turkey’s (CBRT) interest rate decisions on precious metal prices, the expert believes that the declines are over. He claims that the level he will follow in the gold price is 710 liras, and that there may be a pullback up to 680 liras. However, he stated that he expects both foreign currency and gold to break new records on an annual basis. The expert says that a record can be broken in the ounce price of silver.
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