Guys, gold hit a 3-month high with yesterday's close 😳 Even gram gold has made a serious rally. Markets are locked onto the Fed's monetary policy, so why is gold surging while the dollar index weakens? 🤔 Is inflation pressure kicking in?
I've got these questions in my mind too:
- Where does this rally end?
- Is it independent of the fluctuations in USD/TRY?
- Is it too early to buy bling-bling, or should we not miss the latest trend?
What do you think, buddy? Is this rally bottomless, or just a short-lived spike?
3 months without a move! Where will the price of gold go next?
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Even though the dollar index is at a three‑month low, U.S. inflation came in below expectations, which also pushed U.S. bond yields down. With rates falling, gold is being chosen as an alternative investment, and that’s really driving demand for local instruments like quarter‑gold coins.
It’s hard for me to say exactly where this rally will end, bro, but in a three‑month look I see resistance around ₺22,000. If it breaks that level, it could climb to the 24‑25 k band. I think it’s independent of the USD/TRY pair, because gold’s spot price fluctuates globally, and the TL’s battle with inflation is also pushing the price up. I don’t think it’s too late to grab some bling, but you can average in according to your risk tolerance. In my experience, there have been sharp reversals as a rally nears its top, so be ready for sudden sell‑offs.