İslam Memiş warns 'one will rise'! Gold and stock market alert

Financial analyst İslam Memiş made critical assessments regarding the course of gold and the stock market on his program on TV 100.

Memiş stated the following:

HE EXPLAINED BY SAYING "THE BAND I AM FOLLOWING"

"There is no significant data flow in both domestic and international markets this week. Since it is election week domestically, local elections will be discussed heavily, while externally, I will focus on news flows coming from Russia.

I expect this week to be an optimistic one. I expect calmness and even selling pressure in exchange rates and gold prices. As for the stock market, I expect a rise.

BIST100 index; The target is 9,350 points. What is important is for it to remain above the 9,400-point level. There is a rise in the medium and long term, but there are selling areas below in the short term. The band range I am following is the same, the 8,400-9,400 levels.

40 LIRA FORECAST FOR DOLLAR/TL

Dollar/TL exchange rate; The official rate is 31.96, and the free market rate is 32.85 lira. It will linger in the 31-33 lira range. The pace of the rise will remain limited in April as well. A rise again in May-June. My forecast of over 40 lira for this year remains valid.

EUR/USD parity; It closed at the 1.08 level. 1.08 and gold are cheap. Since my target is 1.12-1.15, I will continue to see them as cheap.

Ounce gold (xau/usd); It closed at the 2,165 dollar level. I will follow the 2,150 and subsequently the 2,125 dollar levels. It may linger in the 2,150-2,175 dollar range this week. The declines are not permanent. It would be accurate for those who made a 50 percent purchase at 2,160 dollars to make a 25 percent purchase at 2,150 dollars.

"NORMALIZATION WILL BEGIN TODAY"

Gram gold; It closed at the 2,472 lira level in the free markets. My warning to 'wait' last week came true. It fell by 100 lira last week. That is, from 2,548 lira to 2,448 lira. Gram gold investors should follow ounce gold. It can be purchased this week at the figures corresponding to the 2,150 dollar level.

Normalization in the production of mint-issued bullion gold and gram gold will begin as of today. That cycle is broken, be at ease. Silver is quite cheap."

News Source: 12punto