Under the influence of the increasingly hawkish Fed, risky assets began to be sold and the markets, especially the crypto money markets, turned upside down. In this environment, zero-yield gold prices also fell sharply and fell to February levels. Known for its accurate predictions in the Turkish market, Islam Memiş warns gold and dollar investors by pointing to the month of July.
Islam Memis: Don’t take out what you have, be patient!
As you can see in the news of Cryptokoin.com , the latest US inflation data came in above expectations, even though it saw a sharp decline. This was taken as a sign that the Fed will hawk further to contain inflation, and US Treasury bond yields soared to historic highs. Although seen as inflation protection and a safe haven, rising interest rates increased the pressure on the yellow metal and gold prices returned to the levels at the beginning of the year.
While these developments are taking place, economist Islam Memiş states that a fluctuating process is expected in the markets and says, “Don’t take out what you have, be patient!” He warns investors. Referring to the collapse in the crypto money market, which caused some projects that are thought to be very solid, to throw the towel, the economist says:
There is nothing to be done. This trend will continue in the markets under the guidance of Central Banks. One week it will rise sharply, another week it will fall sharply.
“There may be a turmoil for dollar and gold prices in July”
“Strict rises on the dollar side will certainly leave their place to sharp declines “The central banks are trying to reduce inflation by raising interest rates, but inflation is still rising and purchasing power is falling,” says İslam Memiş. According to the economist, who says, “People think that inflation will decrease and the markets will improve,” assets are melted down by buying and selling. Islam Memiş makes the following predictions:
There is no problem with traditionalists here. In the new world order, inflation will decrease to some extent in July, but then there may be hyperinflation. All investment vehicles can be a mess in July. The rise of the dollar from 104 to 106 does not work for the USA. The global financial system is in crisis.
İslam Memiş says that countries are in a dead end and they are trying to contain inflation by putting pressure on commodities and cryptocurrencies and increasing interest rates. According to the economist, they will not be able to afford it in July and it will be better understood what is what. Saying “People dream a lot, but own little,” Islam Memiş thinks that a more pessimistic period has been entered.
