Gold prices are changing as the US Federal Reserve will raise interest rates in March. One of the most important topics of this week was the US inflation data, which reached the highest levels of the last 40 years in the USA. Inflation is expected to rise to 7.3 percent on an annual basis. So, how might this affect gold? What is expected in the future? cryptocoin.com As Gold and Money Markets Specialist, we convey the views of Islam Memiş…
How can US data affect gold prices?
According to Gold and Money Markets Specialist Islam Memiş, the markets are focused on US inflation. He noted that in general, gram gold will move in the range of 780-800 lira, but he does not expect a big rise. On the other hand, he expects inflation data in the USA to come at high levels in February, March and April; He said that this situation could cause a rise in precious metal. However, he stated that this “will not be a huge rise”.
Claiming that those who try to create fear in the market by citing inflation data should not be respected, İslam Memiş stated that “every time high inflation is announced”, there will be a rise in reaction, but caution should be taken against those who say “it will fly, run away, rise”. In a post on his Twitter account, İslam Memiş pointed out that the inflation was 7 percent in December, and that his expectation was around 7.3 percent.
Suppression may continue in ounce prices of silver and gold
He noted that if the data comes in this way, prices may rise, but the reaction of the markets may be different. He also implied that the markets may continue to be pressured if the Fed follows a more “hawkish” policy, such as the expected rate hike by the US Federal Reserve in March.
Pointing out that the market can be suppressed by the rhetoric towards the Fed, Memiş points out that the Fed can only increase its rhetorical power, and therefore, the decline in the ounce prices of gold and silver may continue. In general, he states that the only risk is the crisis between Russia and Ukraine. He states that if there is no improvement in the tension between these two countries, the dollar index may recover, while gold, which is inversely correlated with this, may continue to decline. Finally, he says he thinks the basket makers are on the right track.
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