Gold prices rose near a one-month high today as the US dollar retreated. Tuna Kaya, known as a market expert, shared his gold expectations for June. Kaya also conveyed his predictions for dollar prices as well as gold. According to the expert, the value of gold continues to rise with the dollar rate, and various support and resistance zones have been identified. Here are the details…
What affects the market? As
Kriptokoin.com , gold prices rose marginally to a one-month high on Friday, thanks to the muted US dollar added to the precious metal’s rise. The ounce price of gold is on track for its third weekly gain in a row. Meanwhile, expert name Tuna Kaya thinks that the price of gram gold will continue to rise, while he thinks that if the dollar exceeds certain levels, it will trade between certain ranges.
Tuna Kaya points out that the dollar is around 16.20 and 16.40 lira levels and draws attention to 15 liras as an intermediate support level. Although there is an upward movement, he says that if the level of 17.17 pounds is exceeded, 16.5-17 pounds are the ranges that can be followed. However, if the situation in the external conjuncture continues and oil and food prices continue to rise, the exchange rate will continue to move here,” said Tuna Kaya, in such a case that the dollar may rise to the levels of 20 liras.
Tuna Kaya: Super Bills and Bonds can affect the market
Market Specialist Tuna Kaya, in case the dollar goes above 20 lira, the new tools of the management, Super Bonds and Inflation-Proof Bonds He says its release could affect the markets. Drawing attention to the possible effect on the exchange rate, the expert hints that he cannot see a long-term solution for the said instruments by using the expressions “No matter how much it affects the exchange rate, it will not put too much pressure on the exchange rate”.
What are the prospects for gold?
Talking about the euro/TL parity after the dollar, the expert name says that the target level for the euro is 18.04 lira. He points out that if this level is exceeded, 20.60 liras can be seen. Explaining that gram gold continues to rise on the dollar side, the expert draws attention to the fact that the first support zone is at the level of 960 lira.
Pointing to 988 pounds as a resistance level, Kaya thinks that if this resistance level is exceeded, a gram of gold can reach 1,000 pounds. He thinks that if the US Federal Reserve (FED) pauses interest rate hikes, gold will rise more. Mentioning that ounce of gold is trading at levels close to the support of $1,850, the expert says that investors can buy grams of gold and silver to protect themselves from inflation.
