Gold and Money Markets Specialist İslam Memiş evaluated the latest developments in the markets and made various warnings. Here are the details…
Warning to investors from Gold and Money Markets Expert
cryptocoin.com As we have also reported, the markets had become quite volatile in the last weeks of 2021 and gram gold exceeded 1,000 lira. Islam Memiş had come to the fore as one of those who predicted that the markets would retreat. In a recent market assessment, Memiş made statements about what can be seen in 2022.
He thinks that the dollar/TL rate is followed under grams and he does not anticipate that the current pullback in gold will be permanent. He states that he links the price movements of gram gold to the dollar rate in the short term and to ounces of gold in the long term. Saying that the fluctuations in question created a buying opportunity, the expert explained that his long-term forecast is 1.450 liras under grams; He predicts that an ounce of gold may rise to $1,690-2,000 as a result of inflation and geopolitical risks.
Memiş stated that investors recommend creating a 50 percent dollar and 50 percent gold basket, and pointed out that this half rate is very important. Also, drawing attention to the 25-26 January dates when the US Federal Reserve will make a statement, Memiş thinks that ounce gold will continue to be traded in the range of 1,790-1,830 until this date. Noting that long-term positions should be protected throughout 2022, the expert thinks that short-term traders may suffer losses due to harsh movements. He concludes his analysis by stating that the 700-800 band for gram gold offers a long-term buying opportunity.
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