Islam Memiş, who often shares his predictions about crypto money and gold prices in our country, announced his new expectations. The famous financial expert drew attention to the FED meeting. According to him, the precious metal is following a stagnant price movement ahead of the Fed meeting. But that will soon change.
“Gold prices are under pressure”
Starting his speech with gold, İslam Memiş said that the precious metal remained under pressure before the FED meeting. According to him, the reason for this pressure is the strength of the dollar in global markets for now. cryptocoin.com As we have reported, the dollar has seen its highest level in the last 20 years. Accordingly, it is now much more valuable than other investment instruments. The DXY index, which reveals the strength of the dollar, went up to the level of 110. Memiş explains the reason for this as the FED meeting.
According to him, gold prices continue to move under the pressure of the FED. He says he sees a sag below $1,700 an ounce. It also highlights that it is stuck between $1,680 and $1,720 at its current price of $1,697. Memiş, who also looks under the gram, warns the wedding-makers. The famous name says that gram gold, which is traded under 1,000 lira on television, is actually more valuable. According to him, gram gold is worth 1.010 to 1.015 lira in the markets. Memiş also adds that a drop below 1,000 pounds seems unlikely at the moment.
“I expect these levels below at the end of the year”
Evaluating the price of gram gold falling below 1,000 liras, Memiş says that although this possibility is very low, it will be a great opportunity if it happens. The famous financial expert expects a rise in gold by the end of the year. According to him, there are multiple micro and macro factors that support the value of gold. However, Memiş says that this is not valid for the short term. He advises investors to look at the medium and long term. Memiş, repeating his previous estimate under grams, says he expects 1,450 liras.
He also adds that a break in the 1,200 lira level would confirm the bullishness. When it comes to gold ounce, Memiş says that the pressure continues, but any increase will be reflected in grams. Due to all these bullish prospects, he warns investors that this is not the time to sell grams of gold. According to him, we will see big gains in both ounce and gram units of gold by the end of the year. This will be supported by the removal of pressure on prices and new crises.
“I am also on the rise in the dollar”
As the FED meeting approaches, Memiş says that dollar power is also on the rise, as are ounces and grams of gold. According to him, the rate hike that will take place at the FED’s meeting on September 21 will support the strengthening of the dollar. According to the analyst, the dollar will continue to increase in value until the end of the year.
