Well-known economist Islam Memiş mentioned that the rise in gold costs will proceed.
“We have come to the tip of repression”
Memis, “There can be an upward development till the tip of the yr. Upward assaults will proceed. Subsequently, I like to recommend that residents who wish to alternate it mustn’t rush. Gold costs have simply began an uptrend. There was a suppression for six months. We’ve come to the tip of this suppression. The upward motion in gold costs continues. The rise within the ounce worth of gold was additionally mirrored within the gram gold worth.” mentioned.
“Residents turned to buy”
Stating that there was stress on gold costs for six months, Memiş mentioned, “I anticipate the actions within the ounce worth of gold to maneuver in a optimistic path. The stress on gold costs for the final 6 months elevated their purchases within the third quarter of the yr, each by the central financial institution and residents. Whereas the Central Financial institution of the Republic of Turkey made a purchase order of 31 tons within the third quarter of the yr, there was a requirement for 11 tons of gold on the jewellery and craftsmanship aspect. There was additionally a critical buy in gold beneath the pillow. Equivalent to quarter gold, gram gold, republic gold. Gram gold, which fell to the extent of 980 lira, directed residents to purchase” he mentioned.
“We’re ready for brand new information”
Memiş mentioned that gram gold costs will proceed to extend.Gram gold rose to the extent of 1030 lira. We proceed to attend for brand new information in gram gold/TL worth. Specifically, I feel that figures comparable to 1060, 1090, 1150 lira will proceed their upward motion.
“It does not appear potential beneath a thousand liras”
Silver additionally continues to rise. Residents who’re going to purchase gold, particularly, must hurry. As a result of in gold costs, a stage under a thousand lira doesn’t appear very potential anymore.” he said.
“Residents in Silver ought to hurry”
The economist, who provides alternate options to those that can not afford to purchase gold however wish to make investments, mentioned:There was additionally a critical shopping for demand in financial institution deposits. There was a rise of round 70 % in financial institution deposits. Individuals who discover it excessive, who can not put money into gold, ought to flip to silver. We anticipate critical will increase in it as nicely. Whereas the gram worth of silver rises to 13 liras within the Grand Bazaar, the ounce worth of silver is on the stage of 21-25 {dollars}. I predict that the upward actions will proceed right here as nicely.” he used the phrases.
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