Riza Gekay Tugsavrol: 2023 will be golden


We can say that we entered the new year actively, in all markets in general. When we look at the dollar against the Turkish lira, it shows us a slight attack towards the end of 2022. The price reached 18.90. Now it runs from 18:90 to 20:00. In fact, the attack we expected was on Gram gold-TL. Since the price of an ounce is based on 1,845 Turkish Lira, a gram of gold is currently trading at 1,130 Turkish Lira. In fact, we’ve mentioned it in our assessments in recent weeks. Economists believed that growth could continue and that gold could be the year of gold and silver, i.e. precious metals, in 2023. Looks like 2023 will be the year of gold. In other words, it looks like the outflow will be noticeable in all precious metals. Here, although the expected decline in the US 10-year period did not come, we have only seen such an attack in gram gold-TL after China eased the corona measures and trade resumed.


What are the expectations for gram gold-TL? Let’s talk about them a little. Here is a gram of gold. The 1845 resistance level is ounces. With the departure of 1845, a second level of resistance will appear before us. Although 1870 exceeds 1870, we think that in grams of gold-TL, first 1170 and then 1300-1350 TL can reach mid-February and early March. In other words, we can say that the real spring in precious metals can come in March. This is the general opinion of economists.


Dollar-TL continues to move horizontally. It rises little by little. Of course, there was an attack in Euro-TL in the last period, in November and December. We can say that Euro-TL can progress a little more calmly. The reason for this is that a rate hike here in February could now amount to 25 basis points in the European region. When we look at it, in general, exits will continue in this way.

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