Turkey is preparing for the second round of the presidential election to be held on 28 May. Investors, on the other hand, follow the comments on where the gold prices will go after the election. At this point, important warnings about the market come from gold experts. We have compiled these warnings for you.
What do jewelers expect for the gold price?
Mehmet Yuksel, Chairman of Diyarbakir Chamber of Money-changers and Jewelers (DIKO), who made an estimation about the expectation in the yellow metal price, has important warnings. During the election week, when there is uncertainty, Yüksel states that his investment in precious metal will provide significant gains. Stating that the gold market has been experiencing sharp movements, Yüksel states that the fluctuations in the gold price will decrease as the uncertainty slowly disappears.
According to Yüksel, who also explained what should be in the price of gold, the price should now be 1,500 TL on gram basis. Stating that citizens see gold as a profitable investment tool, Yüksel does not expect an excessive decline. Stating that the price has been left behind, Yüksel refers to a change in government after the election. According to him, in such a case, the price of gold may experience more volatility. Uncertainty is a factor that significantly affects the price of gold.
Clear statements from Islam Memiş
Islam Memiş, who we know with his predictions on gold prices, says that the price of yellow metal will increase even more after the election. In this context, Memiş says that “the gold field does not hurt”. Memiş, who makes a distinction between pre- and post-election gold, points out that the ounce price is around 2025 dollars. Emphasizing the controlled processes in the markets, Memiş says that no one should be fooled by the rises. In this context, Memiş points to the range of 1970-2030 dollars for the ounce price of the yellow metal.
cryptocoin.com There is also a warning from Memiş, whose evaluations we have previously included. Accordingly, there is a decline in the ounce price up to the level of 1910 dollars. Expressing that there will be no permanent rises, Memiş says that it is necessary to be very careful in the ounce price. Memiş, pointing out that the real price is 1390-1420, even though 1,280 TL appears on the screens for the price of gram gold, and emphasizes that no one will be given the opportunity to buy and sell. Memiş also explains his expectation for the price of gold as 1450-1550. Memiş states that he would not buy a gram of gold if he had it today. He emphasizes that he will turn to the stock market. He emphasizes that his expectation is 6,000 points from the stock market.
Will the rally expectation come true?
An estimate for the price of gold after the election came from the Minister of Treasury and Finance, Nureddin Nebati. In this context, the Minister says that there will not be a rally in the gold price. Another approach that is in line with the Minister’s views is that of analyst Edward Meir. Meir sees the $1,954 to $2,080 range for the yellow metal as his trading range.
Finally, when we look at the current price of gold, we see that gram gold is at the level of 1,256 TL. However, even though these numbers are written on the board, as Memiş also stated, gold is traded at the level of 1,400 TL. This shows that the scissors have opened in the gold price.
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