02.02.2026 11:13
Islam Memiş, an expert in gold and currency markets, stated that the recent pullbacks in gold prices are not a permanent decline, indicating that a new wave of increase could begin after an approximately 10-day resting period in the market. Memiş emphasized that this process is due to profit-taking and advised investors to be cautious and psychologically prepared for short-term fluctuations.
While the sharp fluctuations in the gold market in recent weeks have made investors uneasy, all eyes are once again on when the rise will begin. Gold and Currency Markets Expert İslam Memiş made noteworthy evaluations regarding the trend of gold prices during a live broadcast he participated in.
"GOLD IS BIPOLAR, FLUCTUATION IS INEVITABLE"
Reminding that gold moves both in dollar and ounce terms, Memiş stated that sharp ups and downs are therefore inevitable. He expressed that gold has now become a tool for speculation and said that investors need to be psychologically prepared for this process.
CRITICAL LEVEL FOR OUNCE GOLD: 5,880 DOLLARS
Pointing out the technical outlook, Memiş noted that if ounce gold breaks the 5,880 dollar level upwards, a new wave of increase towards the 6,000–6,200 dollar band could begin. He emphasized that the main reason for this movement is not geopolitical developments, but rather the U.S.'s low dollar and low interest rate policy.
WHAT HAPPENED IS NOT A DECLINE, BUT A PROFIT SALE
Reminding that gram gold rose from 6,195 TL at the beginning of the year to 8,057 TL, and ounce gold reached up to 5,600 dollars, Memiş stated that the recent pullbacks should be interpreted not as a decline, but as profit sales.
NEW RISE AFTER A 10-DAY REST
İslam Memiş expressed that gold prices could follow a horizontal and fluctuating course in the short term, between one week and 10 days, and that after this process, upward movements could come back into play. Memiş emphasized that sharp fluctuations in gold and other precious metals would continue throughout 2026.