The volatile trend in gold prices continues.
Last week, the record-breaking ounce of gold is currently trading at 2170 dollars.
So, will gold prices rise or fall? Gold and Money Markets Expert İslam Memiş pointed to the next 15 days and provided 4 different figures.
Highlights from Memiş's statements are as follows:
HE DREW ATTENTION TO THE 2400 LIRA LEVEL FOR GRAM GOLD
"The ounce gold price is recovering. The critical resistance level has now become the 2180 dollar level. There is a gap area below, which is the 2125 dollar level. In case of dips below 2160 dollars, I will be expecting the 2125 dollar level.
Investors holding dollars should evaluate the decline in ounce gold as an opportunity. Because at the 2125 dollar level, we may see an upward trend up to the 2225 dollar level by making another 100-dollar attack.
Therefore, my expectation for ounce gold remains negative in the short term and positive in the medium and long term. Last week, there was a 100-lira pullback in gram gold TL. Gradual buying opportunities will arise during the declines. For the next 15 days, gold prices will continue their calm course. We are facing gold prices that remain under decline and pressure.
Last week, we saw a rise up to the 2548 lira level in gram gold. It is currently trading at 2438 lira. There is a 110-lira drop between last week and now.
I will be following the dips below the 2400 lira level for gram gold. Purchases can be made from current levels to avoid taking risks. Fifty percent can be purchased. The other fifty percent can be done during dips below 2400 lira."
News Source: 12punto
