Giving the news of the market collapse in the last weeks of 2021, Gold and Money Market Specialist İslam Memiş conveyed his new comments. The expert conveyed his expectations for the dollar and precious metals and gave various recommendations to investors. While the analyst thinks that the price increase in gram gold, which has been on the rise recently, is not permanent, he says he is waiting for 25 percent purchase in both dollar and gram gold. cryptocoin.com We are giving the details as…
Islam Memiş commented on the rise in gold price
After the announcement of the inflation figures for January 2022 and the high figures, there were increases in the value of gram gold and dollar. The price of gram gold started the day at 788 liras and has increased by 6 liras since the previous close. One of those who commented on this change in the price of the precious metal was Gold and Money Markets Specialist Islam Memiş. By referring to the dollar, Islam Memiş warned that they would invest in these two assets.
The expert, in his warning to investors, states that gram gold is trying to stabilize between 770 and 780 liras, but he does not think that the rise in prices is sustainable. That is, it indicates that the decline in prices may be temporary. Currently, it points to 750 lira as the support level. He states that the dollar/TL parity, which is one of the biggest factors in gram gold, continues to be followed.
What are the developments that will affect gold?
On the other hand, he states that he expects a 25 percent purchase in the price of both dollars and grams of gold in February, with the expectation of a regression. Estimating that the MB will not make a change in the interest rates, the expert thinks that gram gold may decrease for this reason. On the ounce gold side, which is stuck in the range of 1.790 and 1.808 dollars, Memiş thinks that the decreases will present a buying opportunity. He states that although there is a bearish outlook in the short term, he expects above $2,000 in the long term.
Stating that the focus should be on geopolitical developments in the commodity section, the expert says that the Fed’s interest rhetoric manipulates the markets, and gold and silver are suppressed by this development. But he argues that this year, suppression will not be successful.
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