Gold markets rose after the US Federal Reserve’s (FED) interest rate decision. At the time of writing, an ounce of gold has risen from $ 1,870 to $ 1,895. The price of gram gold, which was under 900 lira, went up to 905 lira. Meanwhile, Gold and Money Markets Specialist Islam Memiş shared his thoughts. Here are the details…
Islam Memis: Gram gold will be 1,200 lira in July
Gold and Money Markets expert; First of all, he points out that the range of scissors in banks, jewelers and foreign exchange dealers is at least 10 liras, and states that this situation is annoying for those who make daily or weekly transactions. He stated that due to the high range of scissors, manipulator attacks and speculation in the market were prevented.
Later on, Islam Memiş switched to the gram gold estimation and repeated its annual estimate of 1,400 liras. As we have reported as Cryptokoin.com , he was constantly sharing his predictions of $2,150 per ounce, as well as his prediction of 1,400 pounds per gram. Drawing attention to inflation and geopolitical risks, the expert said that he expects to see 1,200 lira in July. Islam Memiş used the following expressions:
Our citizens know very well. There is a serious increase in geopolitical risks. Inflation continues to rise around the world. We are passing through an environment that gold prices love. We did not see any aggressive rise under ounce. There is a gold and silver price that looks like a bomb with the pin pulled. Levels below 900 may not be permanent in my opinion. There is no change in my prediction for the levels of 1200 TL in July and 1400 TL on an annual basis.
What should investors do?
The expert, who thinks that inflation will continue to rise until August, states that in order to combat this, the rent issue in the markets must be broken first. He stated that at the moment, everyone in Turkey is now a millionaire, with house prices rising. Finally, the expert said, “Our story after inflation, I think of May and June as waiting months. Central Banks will closely monitor tourism rates in the world. Since I see the possibility of new peaks coming in July very strongly, I predict that sales should not be made in May,” he said.
