Gold forecast from Islam Memiş

Gold and money markets expert İslam Memiş made important statements regarding the gold market.

Speaking to Ekol TV, Memiş said that the activity under the roof will continue.

Memiş's statement is as follows:

In international markets, the price of gold per ounce is $3,363, while the price of gold per gram is currently at 4,453 lira. We anticipate that the range of gold per gram, which we monitor, will continue to fluctuate between 4,400 and 4,500 lira. We continue to monitor the $3,305-3,368 range for gold per ounce. Last week, Fed Chair Powell made a statement at the Jackson Hole meeting. He signaled an interest rate cut. This week, all assets against the dollar reacted quickly with an upward trend. We are observing profit-taking in assets against the dollar this week. Markets appear poised to remain tepid for a while longer. There is no significant data flow in both international and domestic markets. We anticipate a quiet week's close, but developments in the Middle East are important. The peace talks between Russia and Ukraine are important. We can say that we expect a calm closing this week.

Source: News Center