As gold and dollar continue to move, investors’ focus is on the inflation data to be announced in the USA today. Meanwhile, Gold and Money Markets Specialist Islam Memiş gave his new statements. Here are the details…
Warning to gold investors from Islam Memiş
As we previously reported as Cryptokoin.com , the rising dollar in the last weeks of 2021 Islam Memiş, who correctly predicted that gold and gold would fall, continues his predictions. The expert also explained whether there will be an increase in the price of gold. First of all, the expert stated that the current value of gold is not 900 liras, and stated that he thinks those who base the numbers on the “screen” are wrong. At the time of writing, the price of gram gold is around 913 lira, according to various data sources. The price of an ounce of gold is $ 1,851.
On the other hand, according to Islam Memiş, the rise will continue throughout the year. Explaining his expectations for the dollar, the expert name noted that the dollar has risen above 15 liras after a long hiatus, while following the 15.3 lira level as a strong support level. He stated that the short-term range he follows is the range of 14.8 and 15.30 liras. He thinks that investors should follow these ranges closely.
When will new peaks be seen?
Islam Memiş says that there is a strong possibility of seeing new peaks in June and July. Drawing attention especially to July, the expert states that when the dollar falls below 15 liras, those who have foreign currency debt or foreign exchange traders should take advantage of this opportunity. He also states that figures below 15 lira are not permanent in the medium-long term. “Especially, we are in a day where the dollar index is at 104. It is likely that these increases will continue throughout the year,” he adds.
On the other hand, talking about the US Federal Reserve’s (FED) interest rate decisions, Memiş states that the bank may raise 150 base interest rates in total during the year. Last week, the Fed had increased by 50 basis points. Finally, according to Islam Memiş, who pointed out that there is also a suppression in commodity prices, there may be sharp decreases in other commodity areas such as gold and silver, as well as cryptocurrencies.
