cryptocoin.com As you can follow from the news, gold has been fluctuating between $1,760 and $1,800 for a while and continues to seek direction. Omicron fears are leading investors to the safe-haven yellow metal, raising interest rates putting pressure on the precious metal as rising US inflation forces the Federal Reserve to accelerate tapering and start rate hikes sooner. Hacioglu Madencilik CEO Yasin Hacioglu, on the other hand, said that the decline in gold prices in the short term; He states that profits are due to sales and developments in global markets.
“Gold is a more profitable investment tool than foreign currency”
Stating that the lowest resistance under gram is 733 liras, Yasin Hacıoğlu claims that by the end of the year, he will see the 800 band of gram gold. According to the famous CEO, the yellow metal will break the record again and 2022 will be the year of gold. Yasin Hacıoğlu argues that precious metal will strengthen the perception of a safe haven and that it is a more profitable investment tool than foreign currency. Hacıoğlu Madencilik CEO makes the following ambitious predictions:
Investing in gold is a boon for citizens. It does not have a slippery floor like a currency exchange. 2022 will be a year when gold peaks.
Since an ounce of gold is priced in dollars, it becomes more expensive for other currency holders if the dollar rises, and vice versa if it falls. Therefore, even if the ounce of gold remains stable, when the dollar increases, the price of gram gold in Turkish Lira also increases, and in case of a decrease in the dollar, the gram price decreases. As Yasin Hacıoğlu claims, in order for gram gold to earn more than the dollar, the dollar and ounce of gold, which are normally known to be inversely correlated, must increase together or ounce of gold must increase while the dollar declines. Let’s see if the year 2022 will prove the Celebrity CEO right.
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