İslam Memiş announced the massive rise in gold prices: İslam Memiş warned: Do not borrow gold

The volatility in gold prices continues day by day. The US Federal Reserve is providing estimates that it will implement interest rate cuts in 2024. The Fed has given the green light for interest rate cuts. With this situation, experts predict that the rapid rise in the gold market will continue.

FIGURES IN BANKS, GRAND BAZAAR, AND INTERNATIONAL MARKETS

While gram gold is offered for sale at 1951 lira in banks, it is being purchased at 1889 lira.

In international markets, gold is traded at 1921 lira without commission.

GOLD OUNCE FOLLOWS A STRONG PATH

Gold ounce started the day at 2044 dollars. During the day, it reached a low of 2043 dollars and a high of 2055 dollars.

Gold and money markets expert İslam Memiş commented on a new figure for gram gold for the first time. Emphasizing the warning 'do not borrow gold' for 2024, İslam Memiş surprised everyone with his peak forecast for the new year.

DOLLAR EXCHANGE RATE AND PARITY

Examining the short-term target for the dollar/TL exchange rate, Memiş said, "The dollar/TL exchange rate has settled above 29 lira. We are facing a trend targeting 29.60 - 29.70 lira.

The horizontal trend in the euro/dollar parity continues. There is a possibility of a one-point drop. Let's pay attention to figures below 1.09. An opportunity may arise here. Our target is 1.12 - 1.15. We continue to wait here."

"Gold ounce is at 2033 dollars. I had explained that 2040 - 2060 and perhaps 2070 dollars could be targeted, but that there could be a dip to 1995 dollars for this week. There are still support levels at 2002 and 1995 dollars.

These levels could be tested. There is a calm year-end closing. It is moving in a narrow band range. Attention should be paid to the 2020 dollar strong support level. If this is broken, there is 1995 dollars below," he stated.

SHARED THE 3000 LIRA PEAK FOR GRAM GOLD FOR THE FIRST TIME

İslam Memiş added the following:

"Gram gold TL is in the 1965 - 1975 range. Since it receives support from the dollar, it does not react much to the downward movements on the ounce side. The target is 2000 lira.

Our targets for 2024 are known; every drop is a buying opportunity. One should buy at whatever price the gram corresponds to below 2000 dollars. Those who hold gold, do not rush to sell; new records, new peaks are on the way.

Those who will borrow should also write down the 2700 lira level first and then the 3000 lira level in their minds for gram gold. They should calculate their accounts assuming they will have such a cost," he said.

HOW MUCH IS GRAM GOLD?

Gram gold purchase: 1.924,03 TL

Gram gold sale: 1.924,41 TL

HOW MUCH IS QUARTER GOLD?

Quarter gold purchase: 3.222,00 TL

Quarter gold sale: 3.264,00 TL