Islam Memiş, a famous financial expert in Turkey, warned investors about gold and money markets. Sharing his new price predictions with his followers, Memiş announced that a reset period has been entered in the financial markets. Then, he emphasized that he expects an increase in precious metal prices in October and November.
“Gold and silver prices are under pressure”
Talking about the general markets first, İslam Memiş said that he saw a pressure on gold and silver prices. The expert said that factors such as the developments in the Russia-Ukraine war, the increase in global inflation, the tightening policies of the FED should raise prices. He also noted that the IMF recently released a report saying that the global economy is entering a recession. According to him, the fall in precious metal prices during this period of geopolitical and economic crisis is surprising.
Memiş claims that current prices are unreasonable and that the price has been deliberately suppressed. Then he warns investors that a major financial collapse is imminent. Evaluating the rise in foreign exchange prices, Memiş emphasizes the dollar. Stating that the dollar is very strong, he says that it has brought the euro and lira to its knees. He states that while price manipulations continue, the markets are clogged. Then, Memiş warns “Hold your money”, saying that we will see the importance of keeping cash in 2023.
“I expect a rise in October and November”
cryptocoin.com As we have announced, the FED will make a new interest rate decision in October. Memiş predicts that the FED will increase by 50 basis points in October. He attributes the reason for this to the IMF’s report and the intense reactions of the countries. However, Memiş states that he expects a positive price movement in gold and silver prices in this condition in October. While commodity prices have been falling for the last week, Memiş claims that the rise has already started. Also, the expert says he will act more aggressively in Ukraine because Putin is cornered.
“Resetting process started in the markets”
Continuing his speech, İslam Memiş talks about a reset process. According to him, the financial system began to renew itself. This reset will come with market manipulations and crises. The expert expects an increase in problems in the geopolitical, economic and energy sphere. Noting that the dollar is too strong, he argues that financial systems are currently in a stalemate. According to him, 2023 will be a year when it will be important to keep cash. That’s why investors should keep their currencies right now.
“October may be a buying month for gold”
Meanwhile, Ahmet Durukan, who is a jeweler in Kırşehir, came up with a different guess. According to him, the gold and silver companies decided not to bear the labor costs in October. This could lead to a massive price drop for the precious metal in the markets. Stating that the companies will make big campaigns, Durukan suggested that the decreases will offer a buying opportunity. According to him, these companies sell on Thursdays, Fridays, Saturdays and Sundays at no labor cost. In addition, Durukan claims that a necklace worth 30 thousand liras these days can be sold for 10 thousand liras.
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