Economist Şeref Oğuz: Do not sell your gold
Economist Şeref Oğuz shared his forecasts and assessments regarding gold, which is nearing the 2,000 TL per gram threshold.
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Stating that we are in a 'golden era,' Ekonomim newspaper columnist Şeref Oğuz described the rapid rise of gold in his article as 'jumping forward.'
Touching upon the FED's interest rate policy, Oğuz said: “Chaotic processes in financial markets push investors to take refuge in the instruments they know. We are now in a golden era. While the ounce price of gold reached a historic record of 2,148 dollars due to expectations regarding the FED's interest rate cuts, gram gold renewed its peak and approached 2,000 liras. This is almost like jumping forward…”
“INVESTORS HOLD GOLD FOR PROTECTION”
Drawing attention to negative developments occurring globally, Oğuz emphasized that gold gains value during these periods and explained: “For investors, gold is a safe harbor. Because it is not just a yellow metal, it is also jewelry. Its production is scarce. Its resources are limited. It is one of the instruments closest to liquidity. It is a preferred commodity by everyone from central banks to couples getting married. Moreover, it is affected by global risks. History has shown that when geopolitical risks increase, gold prices are affected by this and climb. Furthermore, central banks also begin to accumulate gold. This situation pushes prices upward during periods when supply is limited. In addition to this, the interest in gold in markets where uncertainty prevails rises excessively.”
WHAT WILL HAPPEN TO GOLD?
Oğuz answered the question 'What will happen to gold prices?' as follows: “Cash gold is life. Have gold. Keep it with you. Those who have gold should not sell it. Those who do not have gold, and those who will exit the KKM (Currency Protected Deposit accounts), should also find their way to gold. As for the ratio?
Oğuz also answered the question, “What developments will feed gold?” as follows: “Uncertainties will keep gold strong. Global risks brought by war are high. There is unpredictability regarding the steps of Central Banks. Gold investors love gaps. They withdraw and wait.” Perhaps the appropriate ratio could be between 20% and 30%.”