He announced the figure gold will reach: 'There is no way around it, it will continue to win'

While there have been sharp ups and downs in gold prices in recent months, Selçuk Geçer, one of the well-known economists in the market, evaluated the activity in the precious metal.

Geçer predicted that gold per ounce could gradually reach new peaks and could rise to 6,500 dollars in the near term.

Geçer noted that after the correction movements observed in the gold market, there will be a recovery and that prices have the potential to exceed their previous record levels.

Gold per ounce, which recently reached its all-time high of 5,601 dollars, had then pulled back to the 5,000 dollar band with a sharp decline.

In his latest video, economist Geçer shared his expectation for gold prices to rise to 5,100, 5,200, 5,300, 5,400, and 5,500 dollars respectively in the coming period.

Geçer stated, 'Gold will experience some difficulty before exceeding 5,500 dollars, but after this level is passed, prices will move rapidly upward.'

LONG-TERM TARGET FOR GOLD IS 10,000 DOLLARS

Presenting a future projection on how the market will follow a path, Geçer used the following expressions in his statement:

“This will also take some time. Let us say that too. By time, of course, I do not mean 6 months or a year. It will happen in a shorter time, but friends, it will upset you a little, it will make you wait a little. Especially the impatient ones. Those who are patient already know the business. They do not even look at it.”

Geçer also said that levels of 6,500-7,000 dollars could be seen for gold per ounce respectively, and that after that, 10,000 dollars would start to be discussed.

The economist said, “As an intermediate target, it will go to 6,500-7,000 dollars. Then we will start talking about 10,000 dollars. In my opinion, there is no way around it. Those who are patient, those who are calm, and those who stay away from leveraged transactions will continue to protect their money and win.”