While gold prices continue to fluctuate with the developments between Ukraine and Russia, forecasts for 2022 continue to come from experts. The most recent of these was Islam Memiş, Gold and Money Markets Specialist. Islam Memiş thinks that certain levels should be expected in the precious metal price. As Kriptokoin.com, we convey the details…
Gold and Money Markets Expert conveyed his comments on the gold market
Gold prices gained momentum with the developments between Ukraine and Russia. The ounce price of gold climbed above $1,900, showing levels not seen since June 2021. Meanwhile, Gold and Money Markets Specialist İslam Memiş commented on the last minute developments in the markets and repeated his previous manipulation warnings. According to Memiş, “they will not put the investors to sleep this year”.
Islam Memiş, noting that gram gold rose to the levels of 835 and 838 liras last week, said that he experienced a decrease due to the retreat in the ounce price. He said that he would prefer 810 lira as a support level and 840 lira as a resistance level. He stated that his estimation is that around 1,500 liras will be seen throughout 2022.
“Be a long-term investor”
Islam Memiş recommended that investors may try to buy the assets held by investors with perception and manipulation, therefore, investors should act long-term and create a basket. He also stated that trading should be done on a parity basis. He stated that the latest acceleration in the price of ounce of gold was deliberately and willfully rally made by Russia’s attack.
The expert also conveyed his forecasts for the dollar and said that he predicts that the rises will not be permanent. He thinks that the dollar can move at a price fluctuating between 13.62 liras and 13.5-13.7 liras. According to Islam Memiş, who stated that he thinks he will test 13.4 lira for the last time, the upward trend may start after March. For this reason, he thinks that the decline in February may be around 13.40 or 13.30 liras. At the time of writing, the price of gold is trading at $ 1,905 an ounce. Gram gold changes hands at 844 liras. The dollar is traded at the level of 13.79 lira.
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