Gelisim News

Assist. Prof. Dr. Hakan Yıldırım from Istanbul Gelisim University stated that the price movements of gold in ounces for 52 weeks are in the range of 1.180.74 - 1.549.32 Dollars / Ounce. Yıldırım said: “Gold, of which annually change is 27.29 percent, has entered an upward trend in recent days and has become the investment instrument of choice for investors. The main reason for the globally growing interest in gold is the pessimistic situation in the countries' macroeconomic indicators, the fact that trade wars create a great uncertainty for investors and the US embargo against Iran. These have caused confidence in the markets to fall and made the return to gold inevitable. This situation caused the stock market indices to fall, while gold, which is indispensable for risk averse investors, took its place in the upward trend again.”

Stating that the perception that the FED is going to cut interest rates increases the likelihood that gold prices will go upwards, Assist. Prof. Dr. Yıldırım said: “The direction of gold prices in the market is gold stock shapes depending on global liquidity and real interest rates, however, it is only affected by geopolitical risk and global risk variables, which are known as the most important real interest rate and risk factors recently announced by the FED. Increasing global and geopolitical risks, which are echoing in the market and frightening investors day by day, increase investments for gold, which investors accept as a safe port.”

Assist. Prof. Dr. Hakan Yıldırım said: “In this case, rising gold prices cause the individual investors to continue to buy more, with the perception that they will rise further, while gold prices react to purchases quickly and decisively. Thus, the continuation of the increase in gold prices or the price range in which it is located may maintain its continuity.”