Dollar/TL rate rose above 16 TL in a short time and settled here. Although ounce gold prices fluctuated around $1,850, gram gold prices approached the 1,000 TL limit with the effect of the exchange rate. Commenting on the developments in the market, two economists share their gold forecasts.
Tuna Kaya: Gram gold continues to rise
economist Tuna Kaya, who started his comments by referring to the decline in the dollar index (DXY), said that the 100 support for DXY is an important region. He states that staying above this level may start a new uptrend. However, according to the economist, if it breaks down, it could open the door to good days for gold.
Tuna Kaya, who says that the rise in Dollar/TL, which is the important leg of gram gold right now, has started, states that the rise of gram gold continues with this effect. The economist draws attention to the following levels per gram:
The first support zone is 960 TL, and the resistance is at 988 TL. If this is exceeded, it becomes 1.000 TL. If this exceeds, it reaches the level of 1.020 TL. If the Fed stops raising interest rates, the rise in gold will be triggered more. It is close to the support of 1.850 under ounce. It would be in their favor for investors to buy grams of gold to hedge against inflation.
Devrim Akyıl, pointing to the level of 1.160 TL under gram
You can also follow the news onKriptokoin.com The crypto market saw a heavy crash as the flow slipped from its peaks with the Fed’s start of 50 basis point rate hikes. “International markets are mixed and the crypto money market has collapsed,” said Economist Devrim Akyıl, adding that this is not a surprise.
Devrim Akyıl reminds that he once said that all commodity prices would inevitably skyrocket, and makes a claim like “They know that if they let silver go up, things will get out of hand”. According to the economist, if they let the silver go up, it will push gold up, because as long as it can hold silver, it can hold gold. However, according to Devrim Akyıl, this situation will eventually break.
The economist, saying that June is critical, states that 16.40 TL for Dollar/TL is a critical area in the short term, but the trend continues strongly upwards. According to the economist, intervention is a little difficult without an upward bounce in the Dollar/TL. Devrim Akyıl claims that after the level of 18.40, the level of 23.50 is waiting for the dollar. According to the economist, in this environment, the most sought-after product is physical gram gold. Devrim Akyıl points to the level of 1.160 TL under gram.
