Financial analyst İslam Memiş shared his predictions for the rise in gold prices.
Speaking to Merve Şişman from Karar, İslam Memiş said, “Long-term investors should buy physical gold. Geopolitical risks and war preparations affect gold markets. I predict that world economies will reshape in the future and this will affect gold prices.”
Memiş said, “Following the FED’s interest rate decision, markets have strengthened their expectations for a rate cut in September. This situation supported gold prices. While the ounce of gold was at $2,424 before the FED, it rose to $2,452 after the FED. The Non-Farm Employment data announced in the US was 114,000. This data created concerns about a recession and caused sharp declines in American stock markets. Around 3 percent sales were seen in stock markets.”
Here is Islam Memiş’s gold prediction…
