The rush to safe-haven investments amid ongoing market volatility triggered by the Russia-Ukraine conflict is expected to push up global gold prices. Accordingly, fears of shortages and strong demand kept prices high. Spot gold prices rose 4.30 percent last week to $1,970.35 an ounce. Gram gold price, on the other hand, started to watch at levels very close to 900 TL. Gold prices increased more than $40, accelerating an uptrend that started especially in the first week of March. Meanwhile, an economist shared his predictions for the levels to be seen throughout the year. cryptocoin.com We share all the details…
Tuna Kaya: Gram gold will see 1.200 TL
As a result of the uneasiness caused by the uncertainty in the global, many investors turned to gold, which has the status of “safe haven”. While many analysts think that gram gold will secure 900 TL in the near term, Economist Tuna Kaya set a yearly target of 1,200 TL for gram gold in a video he shared on Youtube. He states that the gram price of gold has now exceeded 820 TL and this point has now become the cost point.
According to Tuna Kaya, the 871 lira level is seen as a support level. Support is a price level at which a downtrend can be expected to pause due to demand intensity or buying interest. Tuna Kaya thinks that if this point is exceeded, gram gold will set its sights on 1,000 liras. As we have reported before, gold exceeded 820 liras and stood at 900 liras. The expert draws attention to the fact that it would no longer be a surprise to see around 1,200 liras in the middle of the year.
$2,200 can be seen under an ounce
On the other hand, looking at an ounce of gold, Tuna Kaya points out that the $2,000 level is the target. In the middle of the year, he thinks that the $2,200 levels can be seen. An ounce of gold broke its last record by seeing $2,070 in 2020. Some experts think that an ounce of gold could break the level this year due to both inflation and geopolitical tensions. However, only time will tell what exactly will happen in prices.
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