Expectations of a new peak in the gold market: 10,000 TL per gram by year-end on the agenda

As activity in the gold market continues, central bank interest rate decisions remain under close scrutiny by investors. Following the decisions by the Bank of Japan and the US Federal Reserve (Fed) to keep interest rates steady, eyes have turned to the European Central Bank, which is expected to take similar steps. While geopolitical developments and volatility in oil prices increase uncertainty in the market, experts note that this is why central banks are acting cautiously.

There has been significant movement in gold prices since March. Expert İslam Memiş emphasized that the momentum observed in ounce gold since March is continuing, and that expectations for an increase, particularly for May, remain. Memiş shared that, based on technical data, ounce gold could test the 4,850 and subsequently the 4,900 dollar levels.

Regarding gram gold, Memiş, who expects the rise to continue, stated that he sees a high probability of the 7,000 TL level being exceeded during May. For the end of the year, he expressed that the 10,000 TL target for gram gold remains valid. Memiş summarized his expectations by saying, “I expect moves above 7,000 TL for gram gold in May. For ounce gold, a test of 4,850 and then 4,900 dollars could occur. Therefore, my forecast for a rise in gold prices continues. I am maintaining my 10,000 TL level forecast for gram gold by the end of the year.”

CALL FOR CAUTION TO INVESTORS

Pointing out that short-term price movements carry risks, İslam Memiş advised investors to be patient and think long-term. He specifically stated that one should be cautious against sudden fluctuations in the market.

The assessments included in this news report are expert opinions and do not constitute investment advice.