Gold prices in global markets and Borsa Istanbul developments
Ahlatcı Holding Strategist Yücel Tonguç Erbaş stated that gold prices have declined due to US employment data and increasing interest rate pressure.
Ahlatcı Holding Strategist Yücel Tonguç Erbaş stated that global markets are focusing on employment data from the US, noting that gold has retreated to $4,100 under increasing interest rate pressure, and evaluated the current process in Borsa Istanbul.
All eyes on employment data in global markets
All attention in global markets has turned to the private sector and non-farm payrolls data coming from the US. These data are expected to be decisive on gold and other investment instruments.
Interest rate expectations and the decline in gold prices
If employment data remain below expectations, interest rate hike expectations in the US may weaken. Due to rising interest rate pressure, the $4,250 level was broken downward, and prices pulled back to as low as $4,100.
$4,100 is a critical support level for gold
Experts emphasize that during the decline process, the $4,100 level constitutes a very important support point for the gold market.
Liquidation and investigation process in Borsa Istanbul
Domestically, developments at Borsa Istanbul and the liquidation process regarding the fund investigation continue to be decisive for the direction of the market.
Consolidation expectation in the BIST 100 index
The contract rollover in futures markets and company changes to be made in the BIST 100 index are being closely monitored. It is stated that the index may experience a consolidation process in the range of 12,000 to 12,500 points.
Volume increase required for a strong reaction
For the market to give a strong reaction again, it is stipulated that the liquidation process must gain clarity and an increase in trading volumes must be observed.