He gave a date for the drop in gold! He warned investors
Finance and market analyst İslam Memiş drew attention to a potential technical correction in gold prices. Stating that there could be volatility in gold, Memiş gave a date for the decline. Here are the details...
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While the rise in gold, seen as a safe haven, continues under the influence of global geopolitical tensions, even the ceasefire in Gaza has not lowered the tension in prices.
While experts state that investors who trade can turn pullbacks into opportunities, it has been observed that the declines in prices remain limited.
Finance and market analyst İslam Memiş made important warnings regarding the gold market, which has gained value rapidly in recent times.
“THE MARKET NEEDS A CORRECTION”
İslam Memiş stated that after the rise in gold, the market technically needs a correction.
Memiş stated that there could be a pullback in gold prices in the short term, and expressed that this process should not worry investors.
In his statement, he said, “This correction could happen in a week, or it could happen in a month... But we will definitely see a pullback. Those who hold gold should not panic, they should remain calm.”
“TECHNICAL CORRECTION IS INEVITABLE”
Pointing out in his evaluations on YouTube that gold has been in an upward trend for a long time, Memiş used the phrase, “The market is preparing for a technical correction.”
According to Memiş, this process should be evaluated as a natural market movement for gold investors.
Stating that there may be short-term fluctuations in the ounce price of gold and gram gold, Memiş emphasized that a pullback, even if limited, has become inevitable after the excessive rise in the market.
“INTEREST RATE DECISION AND US DATA WILL BE DETERMINING”
Analyst Memiş pointed to the impact of the US interest rate decision to be announced on Thursday and economic data on the markets.
Stating that these developments could create short-term volatility in exchange rates and gold prices, Memiş said that the week should be divided into two as “before Thursday” and “after Thursday.”
Stating that foreign policy developments will also determine the direction of the market, Memiş said, “The statements of the US and Israel regarding the Middle East will continue. They may continue to manipulate the market with geopolitical tension.”
It was stated that after İslam Memiş's statements, investors turned their attention to Thursday.
It was noted that volatility in the gold and foreign exchange markets could increase after the interest rate decision, and that changes in direction in prices could be observed in the short term.