29.11.2025 15:06
Islam Memiş, an expert in gold and currency markets, stated that the most profitable investment vehicle in 2026 will be silver, and he made noteworthy evaluations regarding the gold, silver, and currency markets. Memiş highlighted the euro as an alternative investment against gold and silver.
Islam Memiş, an expert in gold and currency markets, stated in his evaluations of financial markets that silver will continue to be the most profitable asset for investors in both 2025 and 2026.
Reminding that silver reached historical levels in October, Memiş expressed that the decline of the gold-silver ratio to 77 made silver much more attractive compared to gold. He noted that the ratio could continue to decrease throughout 2026, which would positively affect silver.
Highlights from Islam Memiş's statements;
"Silver had reached historical peaks in October. After a month, a new peak was reached. Why did it rise so much? When the gold-silver ratio fell to 77, silver naturally provided more profit compared to gold. Silver was the champion of 2025. Silver will also be the champion of 2026. We consider the year 2026 important for silver.
"THOSE WHO EVALUATED THE OPPORTUNITY MADE THE RIGHT DECISION"
We expect attacks above the 80 level, especially in the gold/silver ratio, but we may see it decline to 67 next year. This will provide positive support for silver. There was silver that declined to $45.5 in November. Investors who evaluated these levels made the right decision.
"GOLD PRICES ARE IN A GREY AREA"
Gold is at the level of $4184 per ounce. As the ratio declined, it somewhat stabilized. Fluctuations continue in the rough range of $4,000-4200. Investors should ask themselves: Will these increases continue? Or is there a trap? Gold prices are currently in a grey area. Will the US attack Venezuela, or will there be peace in the Russia-Ukraine war? Gold prices will react according to news of war or peace.
WILL THE RISES IN GOLD BE PERMANENT?
I do not expect the rises to be permanent. I will be monitoring the $4,000-4200 range in the short term. Personally, I expect a peace announcement from Russia-Ukraine in the first quarter of 2026. This will cause gold prices to drop below $4,000. Levels of $3,800-3900 will not be a surprise for me.
ALTERNATIVE INVESTMENT TO GOLD AND SILVER
Is there an alternative investment vehicle to rising gold and silver? Yes, there is, for example, the euro. The euro/dollar parity is at the level of 1.1580. There is a low exchange rate here. Therefore, I think the euro is an alternative investment to gold. If one instrument is high, another investment vehicle is cheap. It is more logical to turn to a cheap investment rather than following a high investment. Since I foresee the euro/dollar parity rising to 1.21 in the first quarter of 2026, I think the current level is cheaper. After testing the peak, there is no need to look back; investment should be made when an instrument is under pressure or in a downtrend. When you look at the scale, gold is currently more costly, while the euro seems more logical. The dollar and euro are not an investment vehicle. But since we expect a decline in gold, we use the euro as a tool for currency parity. That’s why I consider it important. If anyone insists on seeing paper currencies as an investment vehicle, the performance of the Chinese yuan and Russian ruble compared to the dollar will be better in the next four years. There is an increase in gold due to the rising possibility of the Fed cutting interest rates, but I do not expect the increases to be permanent. Silver was 2.5 TL in 2020. The ounce of silver was at the level of $12. Today, silver is 74 TL, and the ounce is at the level of $54. This is the map of the last five years. Those who want to buy silver can make decisions by looking at this map.
WILL GRAM GOLD REACH 6,000 TL?
There is not much left for gram gold to reach the level of 6,000 TL. If the Fed goes for an interest rate cut, we could see 6,000 TL. If the US attacks Venezuela, it will bring 6,000 TL figures into the agenda for gram gold. But in a contrary scenario, we would finish the year in the range of 5,500-5700 TL. There is a lot of uncertainty, and the atmosphere is murky. Therefore, it is not correct to give a clear figure."