Gold and Money Markets Specialist İslam Memiş came up with his new predictions for gold. The expert also made various warnings for 2023. Here are the details…
Islam Memiş explained: Gold is very cheap
cryptocoin.com As we have also reported, gold has been affected by the latest statements of the US Federal Reserve (FED). The Fed’s 75 basis point rate hike was expected by the markets. But after the interest rate decision, the speech of Fed Chairman Jerome Powell lowered the ounce price of the precious metal. This situation also affected the value of gram gold. Gram gold closed the week around 975 liras. That’s why experts call for buying gold. One of them was Islam Memiş.
Islam Memiş said that gold prices are “presenting very good opportunities” at the moment. He implied that people with new TL can invest in gold. He also stated that it offers an opportunity for those who will have a wedding next year and those who want to prepare. He stressed that gold prices are “very cheap” at the moment. He said he suffered “more losses than necessary” at current value. Therefore, he pointed out that gold is seen as an “opportunity” these days.
In addition, Islam Memiş drew attention to long-term investment, as he constantly emphasized in his gold comments. The expert name says, “We should not enter into a short-term expectation.” In general, he states that citizens can prepare for 2023 with their investments. He states that the investor who buys grams of gold at 980 liras will encounter a gram of gold above the 1,000 lira level in 2-3 weeks. Therefore, he underlines that these times should be turned into opportunities.
Call to citizens: Hurry
In a separate statement, Islam Memiş made general warnings for the year 2023. The expert made his statements especially after the inflation data of the Turkish Statistical Institute (TUIK). He stated that the 2023 hikes in taxes, fees and penalties are certain. As it is known, TURKSTAT announced the inflation figure for October the other day. According to the statements, inflation increased by 3.54 percent in CPI in October, while inflation rose to 85.51 percent in the annual period.
In the light of the announced data, Memiş stated that citizens should take precautions before 2023. The expert said that it would be more advantageous financially for those who have expired passports, those who have tax debts, and those who will pay fees to take care of their work in advance. Memiş said that “the base effect may have peaked” about the increase in inflation. For this reason, he talked about the possibility of seeing a decline in inflation in November and December. He drew attention to the possibility of a recession in the short term as a result of the measures taken by the CBRT and the BRSA. He stated that for the current figures to be reflected in commodity prices, the dollar should decline.
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