gold price and dollar exchange rate Known for his comments on Islamic Memisgave remarkable warnings on the markets after Eid al-Fitr. The markets were active before the holidays. While the dollar rate is trading at 14.85 TL, price per gram of gold It moves at 906 TL. ONS Gold Price At the level of 1897 dollars gold quarter price on the other hand, it finds a buyer at 1497 TL. Islam Memiş told us on Youtube what awaits us in the markets after the holidays.
CRITICAL WARNING FOR ISLAM MEMİŞ HOLIDAY RETURN
Describing April as the last month for the price per gram of gold, İslam Memiş said that this month will be completed by buying 4 times in April. Emphasizing that what he said is not investment advice, Islamic Memismentioned:
“We would not buy grams of gold above the 900 lira level, ounces of gold above the 1900 dollar level, grams of silver above 12 lira and ounces of silver above 25 dollars These were our rates We were expecting a drop and we were going to buy 4 times gradually So our April commodity purchases would end and we would be on hold for the next 3 months We set ourselves such a map.
Yesterday it fell to 1880 dollars in gold, 23 dollars in silver, 888 lira in grams and 10.40 lira in grams of silver.
As the stable dollar exchange rate continued, we saw that the rapid selling off on the ounce side was also having a negative impact on the gram side.
WHAT WILL BE THE PRICE OF ISLAM MEMİŞ GOLD GRAMS?
Drawing attention to gold gram prices, İslam Memiş said that the 4th time incremental buying was completed yesterday. Memis continues:
“On the raw materials side, we have moved to a medium and long-term plan. On Saturdays, the indoor market and exchange offices are open. On Sundays the open markets where you can value your money are open, the banks are closed. Latecomers can take advantage of this last day.
Thursday is the first working day after a public holiday. On Wednesday we will encounter a market that has evaluated the Fed’s interest rate decision. We will be trading on 2 trading days next week. Thursday and Friday.
During this week we have seen the pricing of US central bank FED interest rate policy in the markets. There was an expectation of a 50 basis point hike, but there was manipulation by FED members regarding the 75 basis point rate hike. The markets reacted strongly. We recorded 3% sales on the European and American stock markets. We have also seen that the Fed manages the market with perception. I can say that I see the possibility of a 75 basis point rate hike as very remote. Because when we look at it on a yearly basis, this will be the second time the Fed’s interest rate hike process. Perhaps he will complete this process by raising interest rates 2 or 3 times more.
THE DOLLAR INCREASE PROCESS AWAITS US
Islam Memiş assessed how the Fed’s interest rate decision, which will be announced while markets are closed due to the holiday, will affect markets after the holiday:
“We saw a rate hike of 25 basis points. Inflation continued to rise. It will therefore probably increase interest rates by 50 basis points by adopting a hawkish position. We expect a process related to the increase in the value of the dollar. The dollar index knocked on the door of 104 dollars. As the dollar appreciated strongly, we saw serious selling pressure on the euro-dollar and pound pair. The euro-dollar parity fell below 1.05. We observe that the numerical value of 57,000,200 in the gold parity of the euro has increased to 58,000,300 with the appreciation of the ounce of gold.
MEMORY WILL BE BROKEN
I think we have to be careful after the Fed’s interest rate decision. I shot a video a week ago. After the Fed’s interest rate decision, a game will be broken. This perception will be shattered, especially with the 4th point of purchase, which we call the last at this point of purchase. In other words, the FED will raise interest rates by 50 basis points and commodity prices will come under more pressure. There was a perception that the FED would continue to keep gold and silver under pressure, but since this is a pre-bought perception, I see a very low likelihood of that happening after the Fed’s decision. Fed on interest rates. That’s why I was keen on this last purchase. The $1800 level and the 880 lira level below the grams worked as a strong support point.