A famous gold expert, İslam Memiş, shared his latest expectations about the markets. Meanwhile, gold prices were facing a slight loss of momentum. Here are the details…
What are the expectations for the gold price?
Gold markets were affected by the statements of Powell, Chairman of the US Federal Reserve (FED). Islam Memiş already stated that he was following the FED. The expert stated that he followed the range of 1.020 and 1.040 lira under grams. He also stated that he sees the possibility of a gram of gold falling below 1,000 liras very weak. cryptocoin.com As we have also reported, Islam Memiş was claiming that gram gold could reach 1,450 liras by the end of the year. Now he reiterated his expectation for an increase, saying that “it may break new records in the last quarter of the year”.
The expert, who predicts that the inflationary environment will continue, thinks that it is reasonable to follow the FED in general. He states that the FED’s policy statements are suppressing cryptocurrencies. He expects this state of oppression to continue for at least another year. However, he states that the appreciation of the dollar in this process did not work for the FED. Therefore, he thinks they can get involved.
Are prices risky?
On the other hand, İslam Memiş stated that he found the pricing in the stock market to be risky. As the reason behind this, he pointed out that “correction action is not coming”. He pointed out that foreign investors also entered the market. Therefore, he thinks that novice investors should pay attention. In general, he states that investors should consider a maturity of at least 6 months. Also, the expert claims that the stock market is a great hedge against inflation. Islam Memiş uses the following expressions:
It is known that the stock market protects serious investments against inflation. In the last 20 years, after gold, the stock market has been the most protected against inflation. Term is important in the first place, technical support is important in the second place. The industry side and the informatics side are important. I especially care about energy companies.
Finally, the expert gave his comments about housing prices. Islam Memiş says that he does not expect a decrease in housing prices. Rather, it predicts an uptrend. He thinks that the rise in housing and rent prices will continue, especially in the coming years.
What is the latest situation in the market?
Meanwhile, gold is trading at $1,737 an ounce, changing hands about $20 below the previous $1,758 close. The value of ounce of gold changed after the speech of the FED Chairman. Finally, gram gold is changing hands at 1.015 lira with a decrease of 1.12 percent. It is about 12 liras below the previous 1,027 lira closing.
