Mehmet Ali Yıldırımtürk's year-end forecast for the gold market and gram gold
While an expert stated that gram gold could approach the 10,000 TL level by the end of the year, he emphasized that the medium and long-term target for ounce gold is 5,000 dollars.
Gold and Money Markets Expert Mehmet Ali Yıldırımtürk evaluated current developments in the gold market and shared his expectations for gram gold and ounce gold prices.
Current Levels for Gram Gold
Gold and Money Markets Expert Mehmet Ali Yıldırımtürk stated that gram gold is trading around 6,650 TL in TL terms, and intraday movements are taking place in the range of 6,620 TL and 6,700 TL.
Year-End Gram Gold Target
It was stated that the year-end dollar and TL expectation being at the levels of 52 to 53 TL could create a multiplier effect on gram gold. It was projected that if the upward trend in ounce gold continues, gram gold could approach the 10,000 TL level towards the end of the year.
5 Thousand Dollar Target in Ounce Gold
It was reported that gold remained resilient despite rising bond yields and a strengthening dollar index in global markets. It was conveyed that the 4,000 dollar level forms a strong support for ounce gold, and the medium and long-term target is 5,000 dollars.
Grand Bazaar and Physical Demand Status
It was explained that the fund crisis in the Grand Bazaar caused stagnation in the market and brought necessity-based gold sales to the forefront. On the other hand, it was noted that the demand from savers wishing to convert into physical gold continues.
Oil and Silver Market Outlook
It was stated that Brent oil prices falling below 100 dollars seem difficult due to geopolitical risks and logistical disruptions in West Asia. In silver, it was expressed that industrial demand remains weak and the ounce price moves around 60 dollars.