06.02.2026 14:30
Islam Memiş stated that the price of gold is hovering around $4,824, with $4,800 as strong support and $5,080 as resistance, indicating that the declines are temporary and maintaining a year-end target of $5,880–$6,000.
While the global trend of gold prices continues to decline, the domestic market maintains a strong course due to the spread and labor cost differences in gram gold. Financial Analyst İslam Memiş made important warnings regarding the stock market, foreign exchange, gold, silver, and cryptocurrency markets in his assessment.
SUPPORT AND RESISTANCE LEVELS IN BIST 100 HAVE BECOME CLEAR
Stating that profit sales continue in Borsa Istanbul, Memiş said that the BIST 100 index closed down 2.17% at 13,500 points. He expressed that 12,800 points is the first support level below, while 13,800 points is the first resistance level above, emphasizing that this band range is critical.
STABLE TREND IN FOREIGN EXCHANGE
Indicating a calm outlook on the dollar and euro side, Memiş stated that the dollar/TL is trading sideways at 43.53. He mentioned that the declines in the euro/dollar parity would not be permanent, observing the 1.1680 level as support and viewing pullbacks as buying opportunities. He reported that the euro/TL has stabilized at 51.43.
"THE DECLINE IN GOLD WILL NOT BE PERMANENT"
Noting that the ounce gold is at 4,824 dollars, Memiş stated that 4,800 dollars is a strong support level, while 5,080 dollars is a resistance level. Arguing that the declines are temporary, Memiş expressed that he expects a rapid recovery in the coming weeks and maintains a year-end target of 5,880-6,000 dollars.
SPREAD EFFECT IN GRAM GOLD
Reminding that gram gold is at 7,335 lira, Memiş stated that due to the spread and labor cost differences in the domestic market, prices have not been allowed to fall below 7,000 lira. He recommended investors to trade in ounce gold instead of gram gold.
EMPHASIS ON PATIENCE IN SILVER
Expressing that the ounce silver is in the 73.80-80 dollar band, Memiş stated that the 70 dollar level is a strong support. He noted that investors who have been patient since January have come out profitable, adding that gram silver is at 103 lira.
"BITCOIN IS CURRENTLY THE CHEAPEST INSTRUMENT"
Stating that Bitcoin has lost 8.5% of its value, Memiş said he sees these levels as a buying opportunity. Describing Bitcoin as the cheapest investment tool, Memiş expressed that silver and gold are also at attractive levels for long-term investors.
GEOPOLITICAL RISK AND EXPECTATION OF RECOVERY
Pointing out the uncertainties in the markets, Memiş reported that the dollar index is at 97.73, and the VIX fear index is at 22.31. He stated that the US-Iran tension has affected the markets, and he expects a rapid recovery in gold, silver, and Bitcoin thanks to strong support levels.
* THIS IS NOT AN INVESTMENT ADVICE