Gold and Money Markets Specialist İslam Memiş, in his latest statements, emphasized two dates that could affect the markets. These were the CBRT MPC meeting to be held on January 20 and the interest rates to be announced, and the Fed statements on January 26. cryptocoin.com We are giving the details as…
How will the two dates emphasized by Islam Memiş affect the gold price?
Gold and Money Markets Specialist İslam Memiş says that the markets generally focus on the interest rate decisions of both the Central Bank of the Republic of Turkey and the European Central Bank. He noted that these two developments are important for the domestic dollar rate. Apart from this, the expert, who also drew attention to the statements of Fed Chairman Powell on January 25-26, thinks that this date has a share in the squeeze observed in the markets globally. According to Memiş, Fed statements will affect commodity, dollar and cryptocurrency prices.
He says that the CBRT’s interest rate decision will be important in terms of the dollar/TL rate, and that the dollar will continue to decline if the interest rates are “passed”. He points out that the dollar may fluctuate “again in the range of 13-13.80 TL or 12.90-13.80 TL” depending on the CBRT interest rate decision. The expert, who says that the range of 1,790-1,830 dollars in the ounce price of gold remains valid, states that it will follow 780-810 liras in gram gold. At the time of writing, gram gold is traded at 788 liras. On the other hand, the price of gold is changing hands around $1,809 an ounce. Finally, the expert, who also comments on the cryptocurrency space, says that the horizontal view of cryptos continues.
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