Gold and Money Markets Specialist İslam Memiş, said that with the recent rise in gram gold, he thinks there is a red line in precious metal. Here are the details…
New gold forecast from İslam Memiş: Short-term profit sale
As we have previously reported on Cryptokoin.com , some gold The expert who keeps the forecasts, Islam Memiş, shared his new critical forecasts. Islam Memiş shared the numbers he called the “red line” for grams of gold and dollars. Memiş warns investors by saying “we need to be careful” and “The red line of the market is 16.4. 980 per gram.” used the phrases. He pointed out that the CBRT’s interest rate decision was low, while noting that the peak levels it had set in April were short.
The analyst, saying that he expects short-term profit sales in silver and gold, states that the dollar is in dangerous waters. He states that the one who has foreign currency can turn the difference in ounce prices into an opportunity with the parity transaction. He says that opportunities can also be seen in TL terms, but he defends the parity transaction. Memiş stated that there may be a resale for the ounce price of gold, and that levels above $ 1,830 will be positive.
What is the latest situation in the market?
Gold prices were flat on Thursday, and rising Treasury yields came back a bit after lure came back a few minutes after a US Fed policy meeting that showed the central bank would remain on rate-raising course. Spot gold rose 0.3 percent to $1,852, with U.S. gold futures trading at $1,852. Gold on Wednesday rebounded some of the dollar-induced losses after the notes from the Fed meeting indicated that the central bank would continue to raise interest rates by 50 basis points in June and July to combat inflation, which they agree is posing a significant threat to the economy’s performance.
Wall Street rose as investors were encouraged by the fact that Fed policymakers unanimously felt the US economy was too strong as it struggled to rein in inflation without triggering a recession. Higher short-term U.S. interest rates and bond yields increase the opportunity cost of holding the yielding bullion. The dollar index moved down, making bullion cheaper for buyers of other currencies and capped losses.
