While the developments in global markets caused sharp movements in gold prices, investors’ eyes turned to expert comments. Finance Analyst İslam Memiş announced a remarkable target for gram gold in his evaluation after the recent fluctuations. Stating that volatility in the market may continue, Memiş emphasized that investors should act cautiously.
Memiş stated that there was a change of direction in the markets, especially after the statements of US President Donald Trump, and argued that the current pricing involved “manipulation”. Reminding that the Borsa Istanbul 100 index is at the level of 12,952 points, Memiş said, “The effort to keep it above the 12,900 point level continues. I will continue to follow the trend between 12,400 – 12,900 points. Every decline is considered as a buying opportunity.” Sharing his expectations for the end of the year, Memiş said, “Our expectation for over 16,000 points during the year continues. There is no surprise for us here.”
ATTENTION THOSE WHO HAVE FOREIGN CURRENCY!
Referring to the euro/dollar parity, Memiş stated that the parity dropped to 1.1527 level and said, “Below the 1.15 level is free. I would like to reiterate that I see it as cheap at these levels.” Pointing to the level of 51 lira and 54 kuruş in the Euro/TL exchange rate, Memiş said, “Again, since our upward expectations continue, we are going through a cheap pricing in the euro-dollar parity and the euro-TL exchange rate. I see the level of 1.21 as a target within the year.”
Stating that the dollar maintains its strong stance in global markets, Memiş said, “There is a pressure process in the domestic markets. It is at the level of 44 lira and 50 kuruş. Since our expectation at the end of the year is 50 lira, there is no upward surprise.”
