Gram Gold and Market Warning from Finance Specialist İslam Memiş

Finance Specialist İslam Memiş warned investors that sharp price movements could occur in gram gold over a two-day period due to developments in global markets and upcoming central bank interest rate decisions.

While the volatile course in gold markets continues, Finance Specialist İslam Memiş reported that sharp movements are expected in gram gold prices over a two-day period. Stating that the interest rate decisions of the US Federal Reserve (Fed) and the European Central Bank, along with global political developments, will directly affect the markets, Memiş noted that wide fluctuations will be experienced until 21.00 in the evening.

Conveying that ounce gold is at the level of $4,002 in international markets and trying to hold above $4,000, Memiş estimated that it could complete the week in the $4,070-$4,080 range. Stating that gram gold is at the level of 6,451 liras in the Grand Bazaar, Memiş reported that intense sales have been experienced in the physical market for the last two weeks. On the silver side, stating that ounce silver is moving at the level of $53.65, he pointed to resistance levels at $56 and $57 and support at $50.