Gold and money markets expert İslam Memiş called on gold investors to be ready and pointed to tomorrow.
İslam Memiş, the leading expert in gold and money markets, made important warnings to his investors after the significant declines in ounce and gram gold such as 120 dollars and 200 lira. Memiş emphasized that important changes are coming in the commodity market and stated that attention should be paid to important dates. Arguing that these declines in gold prices are temporary, Memiş stated that the long-term rise in gold will continue, warned investors to “be prepared” and gave an important date.
“MAY 1 IS A VERY IMPORTANT DATE”
The decreases are not permanent, the US Federal Reserve has an interest rate decision on May 1. Stating that we may see a horizontal process that recovers again, İslam Memiş said, “If an ounce of gold falls below the 2300 dollar level, it is important to remember that the 2280 dollar level is a strong support point.
However, if it closes above the $2300 level, we may see increases towards $2360 again. Therefore, I warn ounce gold investors, I closed my position. “Don’t worry if it withdraws from now on, because I will prepare for July,” he said.
GRAM CALLED TO GOLD INVESTORS
Addressing gram gold investors, Memiş said, “Whenever an ounce of gold falls below 2300 dollars, gram gold can be purchased. The gram gold price dropped to 2505 TL in the Grand Bazaar markets. “This may be an opportunity for those who want to benefit from these declines,” he said.
WILL GOLD PRICES FALL?
Is there a possibility of a decline in gold prices? Memiş said, “Yes, gram gold may decline up to 2450 liras” and warned not to risk assets as the tension between Iran and Israel continues. Stating that the prices decreased from 2700 lira to 2500 lira and a decrease of 200 lira per gram was observed, Memiş said that it would be right to buy.
WILL START FROM TOMORROW
I state that the upward trend will restart rapidly in the coming days. I am stating that there may be a decrease in gold prices again starting tomorrow and there is a possibility of a downward break of 50 lira. However, despite this possibility of decline, purchases can be made at current prices. Waiting for a decline can be risky. I think that commodity prices are cheap right now and it is necessary to buy at these levels.
