Stating that the ounce of gold has risen above the level of $ 4,000 again and that the $ 3,950 support was recently tested, Memiş stated that the inverse relationship between gold and oil has broken down recently and said, “Last week, the inverse correlation between gold and oil broke down. We have been following this relationship closely for four months; when oil was rising, gold was falling, while gold was falling, oil was rising.”
Memiş stated that gold is now more associated with dollar movements in the new period and said, “We are now faced with a process in which the dollar is strong and the dollar suppresses gold.”
