Gold Market Assessment from Zafer Ergezen: Gram Gold Could See 7,200 TL

Gold and Money Markets Expert Zafer Ergezen stated that high oil prices and the Fed's policies are putting pressure on ounce gold, predicting that gram gold will trade in the band of 6,600 to 7,200 TL.

Oil and Interest Rate Pressure

The US Federal Reserve's signal of interest rate hikes and high oil prices driven by war are causing reverse volatility in gold markets.

Gold and Money Markets Expert Zafer Ergezen stated that this situation triggers inflation concerns and weakens the performance of ounce gold.

Emphasis on Safe Haven

Stating that citizens always see gold as a safe haven, Ergezen emphasized that gold has continued to deliver gains for thousands of years.

The expert stated that investors turn to gold to secure their futures and that this strategy pays off in the long run.

Levels for Gram Gold

Zafer Ergezen said that the 6,800 to 7,000 TL band has become important support levels on the gram gold side.

Stating that he does not expect gram gold to drop below the 6,600 TL level in the short term, Ergezen expressed that the 7,200 TL level could be seen.

Triggers of the Rise

For a lasting rise in gold, the war needs to end and expectations for Fed rate cuts must increase.

It is predicted that upward movements will be triggered if geopolitical tensions decrease and the likelihood of interest rate hikes weakens.