21.03.2025 13:40
While fluctuations in Borsa Istanbul are causing concern among investors, the 5,000 TL level for gram gold prices has started to be discussed. If there are unexpected fluctuations in the dollar/TL exchange rate, gram gold could reach this level more quickly.
While gram gold is reaching record levels despite the horizontal movement in gold ounces, experts emphasize that the rise may continue, but critical resistance points should be monitored.
"PROFIT TAKING MAY BE SEEN AT THIS POINT"
Economist Filiz Eryılmaz stated in an interview with TGRT News TV, "Technically, gold is in an upward trend and is heading towards $3,140. However, the $3,060 level is an important resistance point. Profit taking may be seen at this point," she said.
HOW ARE THE FED AND GLOBAL DEVELOPMENTS AFFECTING GOLD?
FED'S STANCE: The U.S. Federal Reserve (FED) is viewing inflation as temporary and is adopting a more optimistic stance regarding interest rate cuts. Expectations for three interest rate cuts in 2025 are strengthening in the markets.
RUSSIA-UKRAINE TENSION: No concrete steps have been taken towards ending the war. Moscow's position is increasing uncertainty in the markets, supporting demand for gold.
WILL GRAM GOLD REACH 5,000 TL?
The level of 5,000 TL for gram gold prices has started to be discussed. Eryılmaz noted that this expectation seems ambitious at the moment. According to Eryılmaz, if there are unexpected fluctuations in the dollar/TL, gram gold may reach this level more quickly.
FLUCTUATING TREND IN ISTANBUL STOCK EXCHANGE
The Istanbul Stock Exchange has experienced sharp declines in recent days, causing anxiety among investors. The BIST 100 index, which lost nearly 9% yesterday, opened negatively today as well. Experts indicate that the 9,500-9,400 point levels are critical support points. If the selling pressure continues, these levels may be tested.