The focus of gold and investors in many markets is the focus of the US Federal Bank (FED) this week. The Fed’s decisions generally affect markets, but this time the expectation of interest rate hike has been the focus of people for a long time. For this reason, some argue that the development in question will not create a change. Gold and Money Markets Specialist Islam Memiş thinks that sales can come to valuable metal. Here are the details…
Eyes at the Fed Interest Meeting: What will happen?
Following the start of Russia’s attempt to occupy Ukraine, Russia faced sanctions, while gold prices have not been seen for a long time. Crypto currencies, which are relatively risky, such as Bitcoin, experienced a decrease. On the other hand, inflation data in the United States in February pointed out to 7.9 percent, the highest level of the last 40 years. This led to strengthening the thoughts that the interest rate hike would be made.
Islam Memiş on Gold, “Fed’in interest rate hike inevitably will be short -term sales in commodity prices,” he noted. “When we look under the gram, the dollar can receive support from the exchange rate and the decreases may remain limited. Gram gold can continue the decline trend in February,” he said.
Will there be decreases in gold price?
Islam Memiş argues that after the rise of gold and dollar, he should technically make corrections. Memiş, who states that they can wait patiently to investors, can be purchased from cheaper costs than Memiş. Under the gram of over 900 pounds and ounce of over 1,900 pounds of high costs that Memiş pointed out that, under the gradual decreases underneath, he says. Expert name as support levels, 920 pounds per gram, $ 1,960 is targeted.
On the other hand, Zeal LLC founder Adam Hamilton stated that the Fed is reinforced by 6 of the 12 interest rate hike cycle since 1971, and expects the interest rate hike to trigger the output from the stock markets and support this situation. When the gold rises, time will show whether Bitcoin will move positively. Kriptokoin.comAs we have reported as this week, the interest decision of the CBRT will be announced.