Gram gold price reaches 5,000 TL! İslam Memiş said there will be no surprises and gave a figure and date.
LIVE BROADCAST
Gold continues to be a safe haven for citizens. So, what's the latest on gold prices? Will the gold rally continue? Financial analyst İslam Memiş answered questions from Erşan Karaca of the A Haber team.
Here are the highlights from those statements;
IS THE GOLD RALLY CONTINUING?
Yes, it continues. The ounce of gold reached a 45-year high, and the gram of gold reached its highest level in the Republic's history.
Currently, a gram of gold is 4,910 lira , while an ounce is $3,647 . The four-month holiday period for gold is over. September has started quickly. These increases will likely continue until November.
CRITICAL WEEK
We're once again above the 4,900 lira level. This week and next are crucial for both gold prices and global markets.
Inflation data will be released in the US today. The Central Bank of the Republic of Turkey and the European Central Bank will announce interest rate decisions tomorrow. The US Federal Reserve (Fed) will begin cutting interest rates on Wednesday next week.
Consequently, the economic data agenda is quite busy in the markets. However, geopolitical tensions continue to rise in the Middle East. Gold continues to serve as a safe haven, particularly as news flows from the Middle East exacerbate geopolitical tensions.
5000 TL is just around the corner
Central banks' interest rate cuts have begun to take hold, and geopolitical tensions have gradually escalated. Trump's "Don't buy Russian oil" remarks, along with his "Neither side is ready for a Russia-Ukraine war," continue to escalate tensions, and the price of gold is likely within striking distance of reaching the 5,000 lira level.
ahaber
