The recent sharp price movements in the gold market are closely followed by investors. During the year, grams of gold reached 7 thousand 811 liras and ounces of gold reached record levels of 5 thousand 595 dollars. However, with the increasing sales following the US-Iran war, there was a rapid decline in gold prices. While gram gold fell below 6 thousand liras, ounce gold fell below 4 thousand dollars.
UNDER DIRECTION UP AGAIN
Recently, the recovery in gold prices has been remarkable. While gram gold tested the level of 6 thousand 800 lira, ounce gold rose above 4 thousand 400 dollars.
While wondering what course the prices will follow in the next period, a new assessment of the gold market came from Switzerland-based UBS.
MAINTAINS POSITIVE VIEW UNDER UBS
UBS stated that it maintains its medium and long-term positive expectations for gold. According to the bank, any sharp decline in prices could create a buying opportunity for investors.
HE POINTED TO THE 4 THOUSAND DOLLAR LEVEL FOR BUYING OPPORTUNITY
The bank stated that the decline in ounce gold to the level of 4 thousand dollars or below does not mean that the long-term outlook in the market has deteriorated.
UBS noted that any decline towards these levels could be considered as a buying opportunity.
