Islam Memiş warned! Gold skyrocketed
Gold, which investors are following with curiosity, had an active start today.
Affected by global tensions, gold prices started the new week with a decline due to the impact of non-farm payroll data from the US.
With the data coming in better than expected and the environment clarified regarding the tariffs announced by United States (US) President Donald Trump, uncertainty in the market gave way to risk appetite.
So, what's the current status of the chart below? Here are the details...
Gram gold
4,309.98 4,310.45
Gold (ounce)
3,333.15 3,333.48
Gold ($/kg)
106,777.00 106,789.00
Half Gold
14,036.00 14,158.00
Quarter Gold
7,018.00 7,079.00
22 Carat Gold TL/Gr
3,916.36 4,125.62
18 Carat Gold TL/Gr
3,146.28 3,146.63
14 Carat Gold TL/Gr
2,351.30 3,312.53
Gremse Gold
68,330.53 69,925.97
Full Gold
27,332.21 27,884.85
WHAT DO EXPERTS SAY?Gram gold, which closed last week at 4,210 TL, entered the new week at 4,253 TL. According to experts, the price of gram gold, despite experiencing a short-term decline along with the price of ounce gold, maintains its target of 4,500 TL by the end of the year. Gram gold is expected to decouple from the price of ounce gold, particularly in July, and enter an upward trend supported by exchange rates.
Analysts stated that if the gram gold price falls below 4,200 TL, these levels will be a strong support point, while the expectation of market activity after the July price hike and inflation data has begun to dominate.
Gold and Money Markets expert İslam Memiş made the following assessment of the gold's route:
This week, gold prices could test the $3,330 level per ounce. However, there's a possibility it could drop below $3,200 again. Gram gold also fell below 4,210 TL and is currently trading at 4,253 TL. We're monitoring the 4,280-4,300 TL resistance level, but it could drop below 4,200 TL again.
'THESE ARE THE LAST OPPORTUNITIES'Memiş stated that the short-term decline in the price of gram gold presents a great buying opportunity for those with gold debt and those preparing for weddings, emphasizing that the final buying opportunities will occur in the next few weeks.
Emphasizing that short-term declines in gold prices present a buying opportunity, İslam Memiş said that the price of gram gold and ounce gold will diverge starting in July. Memiş stated that the price of gram gold could reach 4,500 Turkish Lira by the end of 2025.
He stated that these weeks offer a significant opportunity for those planning a wedding and those with gold debt, adding, "The last major buying opportunities of the year will end in a few weeks."
Memiş also commented on the recent sharp rise in the euro exchange rate, stating that a correction is expected in the short term. He predicted that the euro/dollar parity could fall to 1.15, and also highlighted the possibility of a drop below 45 lira for the euro/lira exchange rate.
Financial analyst Memiş emphasized that he maintains his long-term bullish outlook for both the euro and gold, saying, "The euro may be more advantageous than the dollar, and gold may be more advantageous than the euro. Gram gold, in particular, will continue its exchange rate-supported rise."
He advised gold and euro investors to consider short-term declines as opportunities.
Source: Halk TV
Tele1
