Warning to investors from expert! He announced the expected levels
The rise in gold prices this week has ended, and the week closed with a decline. In the Grand Bazaar, the price of gram gold fell to 2,919 liras, and the Republic gold fell to 19,994 liras. Money markets expert İslam Memiş stated that if ounce gold prices drop to the 2,580 dollar level, they expect gram gold to fall below 3,000 liras.
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The performance of investment instruments for this week has been determined. The gram selling price of 24-karat gold bullion traded in the Grand Bazaar decreased by 0.14 percent this week to 2,919 liras, while the selling price of Republic gold fell by 0.29 percent to 19,994 liras.
Markets have left behind a volatile week. Money markets expert İslam Memiş explained the roadmap for gold.
"The spread in free markets was very wide this week. The spread in the dollar/TL exchange rate, the euro/TL exchange rate, gram gold, and gram silver has widened and will likely continue to widen," said İslam Memiş, who shared the following assessment:
"We continue to wait on both the gram gold and ounce gold fronts. In the free markets, gram gold is in the range of 3,065-3,080 liras. We prefer not to buy at this level. These warnings of mine still remain valid; whenever ounce gold drops to the 2,580 dollar level, we will then wait for it to drop below the 3,000 lira level again."
Since we follow the ounce price of gold and have no business with gram gold, we continue to wait on the sidelines. So, which price bands are we following for gram gold? Again, there is the 2,980 lira level on the downside. On the upside, there is the 3,080 lira level."
