03.11.2025 16:31
Islam Memiş, an expert in gold and currency markets, drew attention to the fluctuations in gold prices, stating that he expects a short-term decline in November and an increase in 2026. Memiş noted that the price of gold could reach 4,888 dollars per ounce and 8,000 TL per gram, warning investors against making panic purchases.
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The sharp fluctuations in gold prices in recent weeks are at the forefront of investors' attention. The ounce of gold rose to $4,282 two weeks ago, while it fell to $3,885 last week. Closing the week at around $4,000, the ounce of gold started the new week at $4,026.
Speaking on CNN Türk, İslam Memiş evaluated the market volatility, stating, "The sharp movements in gold prices continue. The $3,800 level is a strong support. There may be a pullback in the short term, but we expect a rise again later in the year."
"GRAM GOLD MAY REACH 8,000 TL IN 2026"
Memiş, emphasizing that the long-term upward expectation continues, said, "In 2026, we may see $4,888 for the ounce and 8,000 TL for the gram." He noted that short-term declines could present buying opportunities for investors, adding, "A downward trend may be observed in November, and around $3,800 is a suitable level for buying."
"THE MARKET BUBBLE HAS BURST, BE CAUTIOUS"
Pointing out the recent sharp drop in gold prices, the expert warned, "There has been aggressive and unhealthy pricing for about 9 weeks, and this bubble has burst. Citizens should not panic buy; they should act patiently." Memiş stated that the gram of gold is currently trading in the range of 5,625-5,658 TL and noted that the Central Bank's halt in purchases has narrowed the spread.
"GOLD IS STILL A SAFE HAVEN"
Reminding that geopolitical risks and economic uncertainties persist, Memiş said, "Tensions continue in Africa and global markets. Gold continues to play its role as a safe haven and will continue to provide returns to its investors in the long term."
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