The Impact of Geopolitical Risks and Interest Rate Pressure on Gold and Stock Markets
Economist Mustafa Aşkın stated that geopolitical risks have triggered a wave of selling in precious metals and that the 12,800 level should be monitored on Borsa Istanbul.
While escalating geopolitical risks and interest rate pressure in global markets influence investment decisions, economist Mustafa Aşkın evaluated gold prices and critical technical levels on Borsa Istanbul.
Global Uncertainties and Inflation
While monitoring the intensive data flow from the US, it was stated that uncertainties regarding the Iran-US tension and the Russia-Ukraine war are fueling global inflation through oil and natural gas prices.
Selling Pressure on Precious Metals
During a process where central banks' interest rate hikes steer investors toward cash, it was expressed that selling pressure on precious metals such as gold and silver has increased.
It was noted that the $4,000 to $4,100 band is critical for gold per ounce, and there is a possibility of a pullback to $3,950 in the short term.
Target Levels for Gold Ounce
Despite central banks and funds in China continuing their purchases, it was indicated that the global selling wave appears stronger.
It was stated that in the event of a recovery, the $4,300 to $4,400 band for gold per ounce could stand out as the primary target.
Elements of Trust in Markets
It was pointed out that the process regarding funds creates uncertainty in domestic markets and that trust is the most crucial element in financial markets.
It was emphasized that regulatory institutions, banks, brokerage firms, and all stakeholders must take steps to restore trust in a transparent and clear manner.
Technical Scenarios for Borsa Istanbul
It was stated that fluctuations are expected in the 12,800 to 13,000 point band on Borsa Istanbul in the short term.
It was mentioned that if the 12,800 level is breached downwards with volume, the possibility of a pullback down to 12,500 points could come to the agenda.