Gold and Money Markets Specialist Islam Memiş warned investors about the latest developments between Russia and Ukraine. cryptocoin.com As we have previously reported, the price of precious metal started to gain momentum with the eruption of geopolitical tensions. So, what is the expert’s prediction? Here are the details…
Islam Memis: Gold may test historic highs
Stating that some people who share financial information on social media are trying to pump fear into investors, İslam Memiş said that when geopolitical risks emerged before and the US Federal Reserve (FED) increased interest rates, currency attacks could be seen. Memiş states that we will talk about the markets “when we come to March”. On the other hand, as someone who thinks that gram gold will exceed 1,450 liras in a year, he states that people’s fearful demand for gram gold or silver is strange to him.
Considering that inflation pricing and the increase in geopolitical risks are likely to pave the way for new peaks in commodities such as gold and silver, Islam Memiş predicts that historical peaks will be tested in 2022. However, he states that he does not think that this will happen in the short term, therefore it is necessary to be a long-term investor.
Basket needs to be made
According to the expert, investors should learn to be an investor by diversifying their baskets and learning to trade with the pair. Memiş states that the struggle to teach basket making will continue until the end of March and uses the following expressions:
The basket is not something arbitrary, it is a necessity. I’m saying there is only one thing you have to do, the value of gold is calculated in dollars in the world. If you have gold, exchange it for dollars. You can invest in whatever is cheaper against the dollar. You cut costs.
The US claims that there will be tensions between Russia and Ukraine in the near future have reduced the value of assets that can be considered “risky” such as Bitcoin, while increasing the momentum of value store and safe-haven assets such as gold. Gram gold rose to 808 liras on the weekend charts yesterday evening. Likewise, an ounce of gold has risen well above $1,830, which it hasn’t been able to break for a week. The price of an ounce of gold seems to be around $ 1,861.
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