Gold and Money Markets Expert İslam Memiş made remarkable predictions regarding gold prices. Stating that the fluctuating trend may continue in the short term, Memiş said that in the last quarter of the year, 4 thousand 500 dollars in ounce gold and over 8 thousand TL in gram gold can be seen.
Stating that he does not expect the current declines in gold to be permanent, Memiş warned investors who do not need cash to “wait”.
GOLD STAYS STRONG DESPITE OIL
Stating that gold completed the week with a fluctuating outlook, Memiş said that the US-Iran tension and oil prices were effective in pricing.
Reminding that ounce gold rose to 4 thousand 160 dollars and gram gold rose to 6 thousand 300 TL on Wednesday, Memiş said, “Currently, ounce gold is at the level of 4,056 dollars in the international markets, and gram gold is at the level of 6,170 liras in the Grand Bazaar market. It still maintains its strong stance, but it follows oil prices more.”
Drawing attention to the reverse movement between oil and gold, Memiş said, “As the oil price rises, it falls, and when oil prices fall a little more, gold prices recover; such a reverse correlation continues.”
Stating that fluctuations may continue in the short term, Memiş said, “Therefore, we will be following the $ 4,000-4,200 range in the short term.”
