Gold and Money Markets Expert İslam Memiş made numerical analyses of the markets in Haber Global.
Stating that there was an interesting development in the dollar, İslam Memiş explained the method he said would “make money” in gram gold.
Evaluating the recent records in gram gold, Memiş said, “Gram gold is at 2647 liras in free markets, while ounce gold is at 2664 dollars. Inflation data in the US has been below expectations in the last month. Markets are waiting for interest rate cuts by central banks. Gold prices have gathered strength from here. On the other hand, geopolitical risks continue. There were also shifts to safe haven gold during the assassination attempt on Trump.”
İslam Memiş explained his expectations for the end of 2024 as follows: “Our year-end expectations have not changed. We expect a range of 3000-3500 TL for the end of this year, and 2600-3000 dollars per ounce of gold. Upward movements will continue on the ounce gold side. Today’s developments show us that the increases will continue. It is early to sell for those who have gold in their hands. We recommend that they wait.”
İslam Memiş said that in order to make a profit in gold, we need to look at the quantity, not the price, and continued as follows:
“From now on, we should not look at the price of gold. We should look at the amount of gold. Gram gold has gained 600 liras per gram in the 6-month period. Gold will continue to increase in value both in the world and domestically. We should focus on the amount of gold. We should focus on how much we can save. Those who have TL and are going to get married should buy it as soon as possible and finish this business. Figures around 2600 may definitely come, it may go down in the short term. These are buying opportunities. Records are broken in two days, declines are broken in two weeks. Investors who focus on the amount on a monthly basis win.”
STOCK EXCHANGE AND DOLLAR PREDICTION
İslam Memiş explained his stock market and dollar prediction as follows:
“Borsa Istanbul is trying to hold on at 11,000 points. Our second resistance level will be 11,500 points. In the second half of the year, no one will win. It is useful to divide the risks. There are areas violated below on the stock exchange side. There will be corrections from time to time.
There was an interesting development in the dollar exchange rate. The dollar was cheaper in the Grand Bazaar compared to the official rate, but it is more expensive this week. The Grand Bazaar exchange rate is 33.12 compared to the official rate of 33.10. The dollar is not an investment tool, but it is a payment tool. The dollar is the currency with the least return.”
