Gold prices continue to rise as tensions between Russia and Ukraine escalate. The ounce price of gold, which has risen above $ 1,900 in the past days, is trading at $ 1,896, which is very close to this level at the time of writing. The precious metal had made its previous close at $1,900. Gram gold, which gained momentum with the rise of ounce gold, is changing hands at around 841 TL. Although the gram price of the precious metal opened around 835 TL in the morning, it showed a sharp rise. So, what levels are next? cryptocoin.com As Gold and Money Markets Specialist, we convey the comments of Islam Memiş…
Gold and Money Markets Specialist: Prices reshape
In a recent statement, İslam Memiş states that in case of new developments in the tension between Russia and Ukraine, prices may change and investors should forget what they know. In his statement on the subject, Islam Memiş says, “If Russia enters Ukraine, forget what you know, prices will be reshaped.” He stated that Russian President Vladimir Putin “put the end” in the tensions between Russia and Ukraine, that is, the geopolitical risk related to the war and the next period is inevitable.
In the light of recent developments, İslam Memiş thinks that exposure should be taken with war pricing. In other words, it points out that we should not be left out as this situation will break the mold in price. He states that with the recent events, the possibility of a decline in the precious metal is over. He mentions that the dollar, which he thinks may change in line with the statements of the US Federal Reserve, has taken a place in his basket by 25 percent.
Fed officials signaled on January 26 that they were on track to raise interest rates in March, given that inflation was well above policymakers’ target and labor market data showed a shortage of workers’ supply. As we have previously reported, the US Federal Reserve (FED) has announced that it will increase interest rates for measures to be taken against inflation. It is thought that the said rate hike will be made at the monetary policy meeting to be held in mid-March, and the Fed has given signals in this regard. Interest rates are expected to change about six times throughout the year.
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