We continue to live lively times in our country. The price of gold tumbled modestly around $1,840 an ounce with the rise in the US dollar index and bond yields. This situation was also reflected in grams of gold and the precious metal fell to 968 liras. So what’s next for gold? Here are the opinions of the Gold and Money Markets Expert…
The price of gram and ounce gold decreased
As we have reported as Cryptokoin.com , the Fed’s Despite the growing debate over monetary policy, some optimistic US economic data supported expectations that the Fed could maintain its monetary tightening stance. Also, according to some, the weighting of the gold price has improved the outlook for the Chinese economy, while ETF outputs indicate weakening investor confidence. In the light of these developments, the price of an ounce of gold decreased to $ 1,830 during the day. The value of gram gold, which has approached 1,000 liras in recent days, has been fixed at around 968 liras.
So what will happen in grams now? Gold and Money Markets Specialist İslam Memiş talked about the data that will affect the markets in Turkey, and said that we had a “heavy week”. Talking about the high prices of rental or sale houses in the market, especially in connection with the statements of Environment, Urbanization and Climate Minister Murat Kurum, İslam Memiş draws attention to the fact that some people are victims.
Expert expects rise despite everything
Returning to the gold interpretation, Islam Memiş thinks that the rise in grams will continue. Memiş says that as a result of the “normalization on the Chinese side”, the price of ounce gold has been suppressed, but the dollar index has also recovered. In other words, it causes the dollar / TL parity to rise. He thinks that if Dollar/TRY breaks the 16.40 level, the new resistance level will be 16.60. Noting that the “red line” level is 980 pounds under gram, the expert thinks that when this level is exceeded and an attack is observed, the next resistance level will be around 1.050 pounds.
İslam Memiş claims that this process will take place in a “semi-horizontal” manner, while stating that the central bank will “press prices 10-15%”. Stating that the market may become “open-ended”, Memiş points out that there is an intense data flow in the current situation.
