Gold prices are yellow, in a calm trading environment at the moment, with an ounce of 1,784 dollars and a gram of 485 liras. Gold investors are also awaiting the release of inflation data in the US today. Meanwhile, expert Islam Memiş shared his gold forecast.
Islam Memiş: Ounce gold, tick will not determine direction until inflation data is released
According to Memiş, although there was a recovery after the release of non-farm employment data in the USA last week, profit sales were realized. Still, it’s 1,780-1 this week. The range of $ 830 was seen. The analyst pointed out that the ounce price of gold does not want to move away from $ 1,800. Memiş pointed to the inflation data that will be announced in the USA, saying that an ounce of gold can draw a new path today.
So, how will inflation data affect the precious metal? According to the analyst, if the inflation data is higher than expected, gold may rise to $ 1,850 an ounce, and if it is below expectations, it may fall to $ 1,765. This situation is thought to be the “last buying opportunity” for an ounce of gold, and the next possible low is stated to be at the levels of 1.770-65. According to Memiş, 1.750-1. The $850 range will break through in the medium and long term.
What will be the situation in gram gold prices?
Memiş, who determined a range of about 100 dollars under an ounce, announced that the band gap that he followed under grams was 478-488 pounds. The expert said that although this band gap is sometimes affected by the ounce price of gold and sometimes by the dollar rate, he observed that this range was not broken. According to Memiş, this year, figures below 480 lira may be the last low level.
According to the expert name, below 480 liras, 475 and 470 lira levels are the last low levels. Memiş, who says that he foresees a withdrawal in the dollar rate, adds that if such a situation comes into question, gram gold may hang below 480 lira for the last time. Memiş points to a year-end estimate of 520-540 liras. However, he states that the 478-488 lira range he mentioned above will remain in the next week. For more gold news Cryptocoin. com “6 Analysts Shared Their Gold Forecasts: These Levels!” You can review the article.