Record surge in gold! Expert warns of a 'very sharp drop'

Following the record surge in gold, citizens are turning to gold for their investments, but a notable expert has issued a striking warning. İslam Memiş emphasized that while the rise in gold prices continues, profit-taking and declines may be approaching.

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Record surge in gold! Expert warns of a 'very sharp drop'

The US Federal Reserve's (Fed) interest rate cut and the geopolitical crises in the Middle East have driven investors toward gold, which is seen as a safe haven. Surpassing 2,670 dollars, the ounce of gold has reached all-time highs, bringing a smile to the faces of gold investors. However, questions remain as to whether these gains will be long-lasting.

"SHARP DECLINES IN GOLD PRICES ARE APPROACHING"

İslam Memiş stated that gold prices have been on a long-term upward trend and that investors should not sell the gold they hold. Saying, "No investment vehicle rises forever," Memiş noted that he expects sharp declines in gold prices due to profit-taking and technical adjustments. Expressing that these declines could be seen especially towards the end of the year, Memiş urged investors to be cautious.

HE ANNOUNCED HIS PREDICTION FOR OUNCE GOLD

Memiş described the decline of ounce gold below the 2600 dollar level as a major opportunity, stating that these levels would provide gains for investors in the short term. However, he advised investors not to sell the gold they hold, warning them not to put their long-term gains at risk.

İslam Memiş stated that he predicts the ounce price of gold will rise to the 3000 dollar level. Israel's attacks in the Middle East and increasing geopolitical risks have accelerated the rise in gold prices. However, he added that this rise will be gradual and that profit-taking may occur after each increase.

CRITICAL WARNINGS FOR INVESTORS

Addressing gold investors, Memiş emphasized that they should not sell their assets. Stating, "Selling assets short right now is gambling; you must hold onto your assets during this process," Memiş expressed that a major financial storm is approaching.

SEPTEMBER 27 GOLD PRICES

So, how much are quarter gold prices today? How many liras is half gold today? Here are the September 27, 2024, selling prices for quarter, ounce, gram, and half gold...