Gold and cash markets skilled İslam Memiş commented on the developments in gold and greenback in his video.
Memiş “When will gold and silver costs recuperate?” In his video titled, he emphasised that his statements usually are not funding recommendation.
The reasons within the video revealed by Islam Memiş are as follows: It’s a approach similar to central banks on the earth directing folks to the inventory market, rallies in inventory markets, directing folks to long-term devices and conserving cash within the pool. One thing like this was deliberate. Let’s have a look at what buyers will do after the nice despair comes. We’ll see this within the coming months. They set a coverage by holding shares in international markets or holding them in their very own currencies.
THE LATEST SITUATION IN THE DOLLAR
Greenback TL is on the degree of 18.68-18.71 within the Grand Bazaar. We see some pullbacks within the Greenback TL trade price. There was a hard and fast trade price on the screens, however rising as much as 18.75 within the Grand Bazaar. The CBRT lowered the rate of interest to 10.50, there was no response within the greenback TL. It has nothing to do with the efficiency of the greenback. We will not see a transfer within the greenback TL right here as a result of folks want KKM or as a result of banks are attempting to maintain buyers ready in TL.
Euro-dollar parity accomplished the week with a restoration request. You might have seen the markets this week, we’re abandoning a stale market, someday rising and one other day falling. Everyone seems to be bored, no style salt. The market wants a brand new story.
Memiş predicted the financial disaster by saying, “There will likely be such a chaos, an financial disaster that those that see this, and those that take their precautions beforehand and those that don’t,” continued as follows: “There have been superb tales this week, in fact for many who see and know. Particularly France. We noticed the social upheaval in . We noticed these avenue protests unfold to Athens. Financial crises flip into social chaos. This week, credit standing businesses introduced a brand new report back to the markets as they priced the recession one hundred pc in 2023 due to the worth of the greenback. Fed minutes had been revealed. Right here too It’s proven that firms are experiencing a disaster concerning the outlook for 2023. Corporations are in uncertainty concerning prices and freight costs. Central banks proceed to extend rates of interest. Why make investments the place rates of interest are excessive? After February, these price hikes will likely be over, however firms are in a useless finish as they elevate costs. As of the primary quarter of 2023, we We’ll watch how firms world wide go bankrupt. There are nonetheless people who find themselves in fairy tales and in desires. Such a chaos, an financial disaster is coming that there will likely be a distinction between those that noticed it and those that took their precautions beforehand and those that didn’t. Did the buying energy lower, did the poverty finish, no. That is why folks began taking to the streets. We’ll see collectively what sort of uprisings passed off in Europe in November and December.
The barrel value of Brent oil is finishing the week with a worth enhance of 1.15 %. There are information of reductions and hikes in oil. We now have an expectation of 120-130 {dollars} for the final quarter of the 12 months. We don’t anticipate low figures in meals inflation, I predict it would enhance much more.”
WHAT IS THE LAST SITUATION IN GOLD AND SILVER?
Let’s discuss gold and silver costs. The value of an oz. of gold is on the degree of 1640 {dollars}. Our hours are 17.15 (Friday, 21 October). Gold ounce has regressed to 1617 as we speak, let’s have a look at if it may be everlasting in 1635 in upward strikes once more, free and low cost gold ounce value. It is essential to carry on to 1635. With the withdrawals within the gold ounce, we’ve seen a 22 % depreciation within the gold ounce value since March. The gram value of gold is 980 liras on the screens. He noticed 997 liras. In the present day it dropped beneath the thousand lira degree once more, however within the night it settled again to the 1000 lira degree. In gram gold TL, 980 lira assist beneath, 1038 lira resistance degree above. It continues to flow into in band gaps. That is the way it continues. Is it doable to purchase gold underneath 1000 liras? I at all times say sure. I predict that the optimistic outlook for gram gold will proceed when the restoration in ounce begins.
Silver is at $18.82 an oz.. $18 above $19. It stabilizes within the vary. Subsequent week I anticipate assaults once more above $19. On the gram aspect, we see that it’s 11.26 on the display, at 11.70. It fluctuates between 11-12 liras on this aspect. Each drop is a shopping for alternative. As it’s now harvest time, we proceed to gather. We proceed to build up gold and silver as we obtain new cash. If gram gold was 1112 as a substitute of TL 1002, we’d not trade our gram gold once more. We don’t promote our gold with out shopping for items. After we purchase a home or a automotive, we solely barter. We don’t short-sell items. We’re proponents of shopping for. We accumulate gold and silver, and pour our funding into the soil. In 2023, probably the most land and land costs will likely be mentioned. We proceed to make land and land purchases.
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