At the end of the week, the activity in the markets continues. Last-minute profit sales are taking place in commodity markets such as gold and silver. Therefore, small scale fluctuations occur in precious metal prices. Meanwhile, the US dollar is gaining strength after its recent weakness. The dollar strength index (DXY), which has seen a slight correction recently, has started to recover in the last two days. The increase in demand can be seen behind the strengthening of the dollar again.
In this economic environment, investors continue to search for the answer to the question of “can I buy gold”. In this context, an expert who had past price predictions shared his views. According to Islam Memiş, one of the first names that come to mind when a finance expert is mentioned in Turkey, the price increase in gold will continue. So, what price levels should investors watch and which is the best date to buy? We answered for you.
“The dollar rate will reach 21 lira at the end of the year”
Islam Memiş evaluated the dollar/lira parity before forecasting gold. Accordingly, the expert says that a reaction rise in the dollar has occurred. According to Memiş, it has now become permanent for the dollar to rise above the 18.60 band against the lira. Due to the decline of the dollar in the global markets, the rise re-emerged as a reaction. The analyst warned investors for the end of the year. According to him, the dollar/lira parity will reach 21 liras by 2023. However, Memiş states that the rise in the dollar will also be reflected in the gold.
“Gold prices will continue to rise”
However, Memiş believes that the global appreciation of the dollar will benefit gold prices. According to the analyst, the strengthening of the dollar will trigger an increase in the value of silver, gold and major fiat currencies. Therefore, Memiş says that the current period is the best period for investors to buy silver and gold. Expressing that the exchange rates will recover in October, Memiş calls on investors to move away from the lira.
In addition, the analyst also shares gram gold price forecasts for the end of the year. According to Memiş, he states that it is very difficult for the gram unit of gold to see gold under 1,000 liras from now on. Saying that an ounce of gold reached up to $ 1,728, the analyst states that this leads to profit sales. However, the analyst claims that the price drops will not be permanent. According to him, price drops present an opportunity to buy. Memiş predicts that the gram gold price will reach 1,060 and 1,090 liras in the coming period.
“This development will create a buying opportunity for gold”
Meanwhile, Memiş states that there may be some decreases in prices. However, he adds that these decreases will not be permanent and prices will increase in the coming months. According to him, investors should invest heavily in silver and gold during these declines. cryptocoin.com As we have reported, Islam Memiş has been saying that a major crisis has been coming for weeks and this will increase gold prices. It seems that the analyst continues to stand behind this prediction.
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