Analyst Selçuk Ergin, known for his crypto currency comments and known as Selcoin, announced his new predictions for gold and the dollar. Stating that in the current situation, it is necessary to pay attention to panic sales, Selcoin stated that he foresees serious increases in the precious metal and the dollar. Here are the details…
Gold forecast from Selcoin: 1.400 liras can be seen
As we have also reported onKriptokoin.com , gold will be subject to the FED’s interest rate hike. with the increase in the value of the US dollar index (DXY) after its departure; in other words, it experienced pullbacks with the rise of the dollar, which is inversely correlated. Analyst Selcoin also drew attention to the panic selling after these recent declines. He states that investors are fed up and that the gold and silver market continues in a stagnant course. “We are going through abnormal days. There was anxiety in the markets. Panic selling has begun. We will continue to be cautious. Inflation will continue to climb. This will happen all over the world,” he said.
As for the gram gold forecast, Selcoin pointed out that the 900-910 lira range is suitable for purchase. He stated that gram gold could see 1,400 liras towards the end of the summer. At the time of writing, the price of ounce gold is $ 1,858, while the price of gram gold is trading at the level of 911 lira. In general, the analyst is of the opinion that those who buy gold around 900 lira will not lose.
What are the expectations for the dollar?
The US Federal Reserve’s (FED) interest rate hike and 50 basis points increase in recent days were among the developments supporting the dollar. The US Dollar Index (DXY) climbed above the 100 level and hit 104. Selcoin also shared his comments about the dollar and stated that he expects peak levels in August. The analyst said, “At the end of the year, it can reach the level of 22 dollars in August with the peak movement as of the summer period.”
The analyst, who thinks that there will be serious peak movements in the coming period, claims that it can be pulled down by intervention at the end of the summer, and this can be achieved by the Central Bank’s interest rate increase. According to the analyst, the Central Bank may increase interest rates by 400 or 500 basis points for this purpose.
