İslam Memiş gave a date for a return to gold! He pointed to that figure under the gram: We may see profit sales, but...
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Gold continues its upward trend. So, what are the expectations? What will gold's future be? Gold and Money Markets Expert İslam Memiş answered questions from A News anchor Sümeyye Gaffaroğlu on Sabah Agency .
Here are the highlights from those statements;
IT STARTED WITH THE RISE
Gold prices started the week on a rise. Yesterday, we saw them attempt new records. A gram of gold reached 4,411 lira , while an ounce of gold reached $3,400 in international markets.
WHAT IS THE TARGET FOR GRAM AND OUNCE?
Today started the day with calmer profit-taking. Currently , a gram of gold is 4,390 lira in the open markets. An ounce of gold is around $3,385 . Our target for the gram gold/TL price by November is 4,500 lira . For gold, the ounce is $3,500 .
"WE ARE WAITING FOR A RETURN"
However, we expect a reversal after November . Numerous factors, including geopolitical tensions in the Middle East, Trump's actions, particularly his statements regarding tariffs, and uncertainty surrounding the Fed, have fueled safe-haven demand, and gold prices reached new records on the first trading day of the new week.
"WE MAY SEE PROFIT SALES, BUT..."
Now, we may see profit-taking corrections from time to time, but we're focused on the main trend. That is, we're focused on 4,500 lira per gram and $3,500 per ounce of gold , and our upward trend expectation continues.
When we focus on the long term, many factors that support gold prices remain on the table.
ahaber
