Gold prices were flat on Friday, and after more than a month, they started to rise on a weekly basis. The US dollar slumped from a two-year high and growing concerns over US economic growth fueled safe-haven demand. Meanwhile, Gold and Money Markets Specialist İslam Memiş drew attention to June. Here are the details…
İslam Memiş thinks that the markets are in the process of balancing
Kriptokoin.com As we have previously reported, the events experienced in the last weeks of 2021 Islam Memiş, who predicted that the volatility would end and has been on the agenda with his comments on precious metals since then, conveyed his new comments. The expert drew attention especially to the month of June. Talking about the decline in the general market, including the crypto money markets, Memiş thinks that the stabilization process that comes with the suppression of the Central Bank is behind it.
According to the name, who argues that cryptocurrencies should rise against gold, this pressure may continue until the end of the month. However, it is thought that it may affect the crypto money market in a positive way due to the reaction rises that it expects to experience in June.
How will gold move in the next period?
Last month, the expert stated that he thinks the rise of precious metals will continue in May and June. Now, it is thought that the continuation of this process will be shaped by the statements regarding the Central Bank’s interest rate decision. The expert, who thinks that a downward price movement can be seen if the MB intervenes in the markets, states that in this case, 16 liras should be recorded in the dollar.
Stating that he generally evaluates gold and silver as investment instruments, not foreign currency, İslam Memiş said, “We need to look at the return. It is necessary to look at the returns of the last 10-20 years, the value increases of the dollar affect us, but I do not characterize the dollar as an investment tool,” he says. Noting that gram gold continues to be the most profitable investment tool for its investors, Memiş thinks that more internal-oriented developments may occur in the market in June. As an example, he cites factors such as “announcement of new measures, possible new moves, increased flow of hot money”.
