Gram gold forecast from İslam Memiş: The 7,000 TL level could be exceeded

Gold and Money Markets Expert İslam Memiş, in his assessment ahead of US inflation data, stated that gram gold could exceed the 7,000 TL level in the medium to long term.

İslam Memiş stated that ounce gold surpassed the $4,000 threshold in November, reaching $4,134, while gram gold approached the 6,700 TL levels. Memiş noted that he is monitoring $4,000 as support for ounce gold and the 6,500 TL level for gram gold.

Assessment: Memiş argues that the decline in oil prices in global markets supports the rise in gold and silver markets. He predicts that while the probability of a 25 basis point interest rate hike by the Fed in December is priced at 70 percent in the markets, this decision could be postponed to March.

Touching upon geopolitical risks, Memiş warned that US President Donald Trump's statements regarding Iran could affect the markets. The expert, who cautioned investors that borrowing gold is risky, emphasized that he maintains his expectation for a medium to long-term rise.