Expert Warns of Critical ‘Gold’ Situation! “We Could See That Figure on the Screen in 1.5 Months!”
Gold prices are closely monitored by citizens and investors. Meanwhile, today, the USD/TRY exchange rate was trading at a buying price of 28.6835 liras and a selling price of 28.6951 liras. Islamic Memiş, an expert in the financial markets, made noteworthy evaluations regarding the gold market and shared his predictions for 2024. So, how much is a gram of gold today? Here is the latest situation in quarter and gram gold prices on Thursday, November 16, 2023…
CRITICAL WARNING FROM EXPERT NAME
Starting his assessments with gold ounces, the expert mentioned, “Technically, we continue to follow the range intervals of $1,908 below and $1,960 above for gold ounces.” he stated, “The possibility of gold ounces falling below $1,900 again is weak!” He emphasized that current economic conditions indicated this and, if it does fall, it could provide good buying opportunities for medium and long-term investors.
STRIKING COMMENT FOR 2024: “WILL SUPPORT GOLD POSITIVELY”
The expert announced his expectation for gold ounces in 2024 with the following words:
“My expectation is $2,350. I base these expectations on the following reasons; especially the gradual end of central banks’ interest rate hikes, the ongoing geopolitical risk perception in the markets, and the expected retracements below the 100 level in the dollar index, currently at 105 levels. I predict that this will positively support gold.”
OPPORTUNITY FOR THOSE INDIVIDUALS!
The expert, stating that the gram of gold has fallen to the level of 1,841 TL due to the retracement of gold ounces, used the expression, “Here, a retracement of 30 liras is normal. But the range of 1,800-1,830 is an opportunity for medium and long-term investors, those planning weddings, or investors with gold debt.”
“Dollar is above 28.50 Lira. Looking at the medium-term program and Central Bank expectation surveys, there continue to be statements that the dollar will strengthen. My personal expectation is in this direction. Since both the dollar and gold ounces will rise together, I predict that the gram of gold can end the year in the range of 1,900-2,000 TL. However, in 2024, I can say that there is a strong possibility that the initial target for the gram of gold will be 2,500 Lira.”
SOURCE: https://finans.mynet.com/
