Previous Gold Assumptions Issuer: These Levels Are Coming Now!

At the end of the week, the activity in the markets continues. Last-minute profit sales are taking place in commodity markets such as gold and silver. Therefore, small-scale fluctuations occur in the prices of expensive metals. Meanwhile, the US dollar is gaining strength after its recent weakness. The dollar strength index (DXY), which has experienced a slight correction recently, has started to recover in the last two days. The increase in demand can be seen behind the strengthening of the dollar again.

In this economic environment, investors continue to seek the answer to the question of “can I buy gold”. In this context, an expert who made previous price claims shared his views. According to Islam Memiş, one of the first names that come to mind when a finance specialist is mentioned in Turkey, the price increase will continue. So, what price levels should investors watch and what is the best date to buy? We answered for you.

“The dollar rate will reach 21 lira at the end of the year”

Islam Memiş appreciated the dollar/lira parity before the assumption of gold. Accordingly, the expert says that a reaction rise has occurred in the dollar. According to Memiş, it has now become permanent for the dollar to rise above the 18.60 band against the lira. Due to the decline of the dollar in the global markets, the rise reappeared as a reaction. The analyst warned investors for the end of the year. According to him, the dollar/lira parity will reach 21 liras by 2023. However, Memiş states that the rise in the dollar will also be reflected in the gold.

“Gold prices will continue to rise”

However, Memiş thinks that the global price increase in the dollar will benefit gold prices. According to the analyst, the strengthening of the dollar will trigger an increase in the price of silver, gold and leading prestige currencies. For this reason, Memiş says that the current period is the most suitable period for investors to buy silver and gold. Stating that the exchange rates will recover in October, Memiş calls on investors to stay away from the lira.

In addition, the analyst also shares gram gold price assumptions for the end of the year. According to Memiş, he says that it is very difficult for the gram unit of gold to see less than 1,000 liras from now on. Saying that an ounce of gold reached up to $ 1,728, the analyst states that this leads to profit sales. However, the analyst argues that the price decreases will not be permanent. According to him, price drops present an opportunity to buy. Memiş predicts that the gram gold price will reach 1,060 and 1,090 liras in the next period.

“This development will create a buying opportunity for gold”

In the middle, Memiş states that there may be some decreases in prices. However, he adds that these decreases will not be permanent and prices will increase in the coming months. According to him, investors should invest heavily in silver and gold during these declines. As we have reported, Islam Memiş has been saying that a major crisis has been coming for weeks and this will increase gold prices. It seems that the analyst continues to stand behind this claim.

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