Year-End Expectations for Gold Prices and the $4,400 Threshold
Evaluating the developments in light of geopolitical risks and the course of the dollar, experts project a wide trading band until the end of the year.
Ahlatci Holding Strategy Director Tonguç Erbaş stated that he expects a trading band movement between $4,000 and $4,850 for gold prices until the end of the year, emphasizing that the $4,400 level constitutes a critical pivot point.
Year-End Trading Band and Critical Level
Ahlatci Holding Strategy Director Tonguç Erbaş shared his year-end projections regarding gold prices in light of developments in global markets. Erbaş stated that he expects a band movement between $4,000 and $4,850 for the remainder of the year.
Pointing out that the $4,400 level is a critical pivot point during this process, the expert noted that movement ranges of approximately $150 could form both below and above this level.
Weakening Dollar Supports Gold
It was stated that one of the main reasons for the upward trend in gold is the recent weakening of the dollar. Although oil and bond yields remain high, the weak dollar continues to support gold prices.
Evaluating current economic conditions, it was expressed that there is no expectation of a strong rally above $5,000 nor a permanent drop below $4,000.
Profit-Taking and New Buying Opportunities
It was indicated that levels around 7,200 TL for gram gold and above $4,600 for ounce gold can be closely monitored in terms of profit-taking.
While investors were messaged not to panic during pullbacks, it was stated that such declines could create new buying opportunities.