The countdown continues for the results of the presidential and 28th term parliamentary elections in Turkey. In our country, the voting process has ended as of the time this article was published. It remains to be seen what will happen to the market after the election results. At this point, expectations are especially important for gold, one of the most popular investment instruments. Here are the latest statements of the expert, who came to the agenda with some comments on gold prices…
Hatice Kolçak announced her expectation for gold prices: 1.500 lira
As the voting process came to an end, financial markets expert Hatice Kolçak shared some of her important predictions. Kolçak warned that the gold price could drop to the $1,900 level. He stated that there are currently two different exchange rates in the market. He noted that the dollar reached 22 TL and the gram of gold reached 1,500 TL. Speaking on social media, Kolçak said, “The dollar is currently priced at 22 liras in the bank, and the euro is priced above 24 liras. In the midst of all this chaos, the dollar reached the level of 22 lira. Gram gold is 1438 liras, if you want to sell it, it is 1290 liras,” he said.
Kolçak said, “This is not scissors, this is something else. Physical gold went up to 1500 liras. Election uncertainty affected the stock market. Do we have to buy gold every time?” said. According to the analyst, we need to have a portfolio and it is important to follow the trends. Kolçak also uses the following expressions:
We wonder what will happen after the elections. There’s something like a bomb there. Some sell their gold at good prices, you can’t blame them. It is natural for them to buy at 700-800 and sell at profit. The dollar index is rising and as long as it continues to rise, gold will not rise quickly. There is a possibility that the price of ounce gold will fall to the level of 1,900. That’s why I wouldn’t buy anything today. Not a good time to buy.
Another development affecting the financial sector drew attention.
Meanwhile, the decision of the Central Bank of the Republic of Turkey (CBRT) allowing Paypole Payment Services and Elektronik Para A.Ş. to operate as an electronic money institution was published in the Official Gazette. According to the decision, Paypole Payment Services and Elektronik Para A.Ş. will provide electronic money issuance services and therefore operate as an electronic money institution. However, the payment institution license of Paytrek Payment Agency Services A.Ş. has been revoked. These decisions were taken in accordance with the Law on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions.
CBRT’s Paypole Payment Services and Elektronik Para A.Ş. and Paytrek Payment Institution Services A.Ş. to operate as an electronic money institution is expected to have a significant impact on the Turkish financial sector, as electronic money institutions are becoming more and more widespread in the country. This decision gives consumers more options to make electronic payments and manage their money.
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