SAFAKNA TURKEY – Gold and money market specialist Islam Memish updated the peak of 1450 lira, which is the end-2022 forecast for gram gold. Memish also assessed housing prices and the future of cryptocurrencies.
Islam Memish, who reviewed the TV program he participated in, said: “Should we buy a house now?” gave the following answer to the question:
“I expect house prices to rise in 2023 as well. Sales are down, but it’s not about demand, it’s about people’s purchasing power. I think it will come with a housing campaign and low interest rates. Again, I expect prices to rise. I asked the minister last week if there would be such a campaign, he said yes. Personally, I expect house prices to not go down. If they are going to use credit, I expect the credit side to decrease in the first quarter of the year.”
“RISKS SHOULD BE ALLOCATED”
Memish updated his much-voiced estimate of 1,450 lire per gram of gold. Memish used the following statements in his statement:
Risks must be shared. At least until the first quarter of 2023. An energy crisis is coming. The policy of raising interest rates of central banks will continue until the first quarter of the year. I think that instruments against the dollar are beneficial in the long run. Euro, pound sterling, gold and silver… For those who wait 6 months, the stock market is also possible. You have to make a basket.
CRYPTO MONEY FORECAST
Band breaks in the cryptocurrency market have not been overcome, this suppression continues. Legislative clarifications are coming, which I expect, if they come out in the first quarter of 2023, could open up a sale. Now uncertainty, regulation protects investors. After the formation of the infrastructure, the market may show an upward movement. At the moment it is not possible to give an exact figure, but it could be a possible outcome that will see the levels it tests.
I think that inflation will continue until half of 2023. If possible, we should not borrow and wait in cash. Until half a year, a complex process should be expected. Big savings are good.
PEAK FORECAST CHANGED LESS THAN A GRAM
Fed Chairman Powell’s statements set aside uncertainty as an ounce of gold fell from 1820 to 1780. Our positive expectation above 1780 continues. There is also no TL degradation of gram gold. On the free market, this range is 1088-87. Beneath the gram at the end of the year is a number like 1125. Its rise is a little delayed under pressure.
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