İslam Memiş forecasts gold price movements and key resistance levels

Financial analyst İslam Memiş has provided updated forecasts for gold and silver markets, noting significant volatility driven by geopolitical factors and oil price fluctuations. Following the end of a 60-day ceasefire between Iran and the United States, oil prices rose above $90, contributing to a temporary pullback in gold prices.

Regarding ounce gold, Memiş identified $4,400 as a critical resistance level. He suggested that if prices remain above this point, the $4,500–$4,600 range could be reached, with a potential retest of the $5,000 level by the end of the year. He noted that the market has not yet fully priced in the impacts of actual warfare, inflation, or global uncertainty.

For the domestic market, Memiş commented on gram gold prices. While noting that prices have dropped from a January peak of 8,157 TL, he stated that current levels around 6,752 TL remain low and represent a buying opportunity. He expressed a short-term expectation for gram gold to exceed 7,000 TL within the month, maintaining a long-term outlook that could see it reach 8,000 TL.