All eyes are on the Central Bank’s interest rate decision. Before the decision to be announced on Thursday, the fluctuation in the markets continues. So, what is the direction of the stock market and gold?
Central banks in global markets announced their decisions.
The Central Bank of the Republic of Turkiye will announce its interest rate decision on Thursday.
Before the decision, BIST 100 index is fluctuating in Borsa Istanbul. The index is at the level of 5 thousand 390 points…
“The index is expected to move in the band of 5 thousand 300 and 5 thousand 700 points”
Capital Markets Specialist Arda Coşar stated that they expect the level to be between 5300 and 5700 until the decisions of the Monetary Policy Committee (MPC) are announced, “If a decision comes out in line with the market expectations after the MPC meeting, I expect a move to 6000 after the first stop, 5700.”
Will the Fed pressure continue?
The gold price per ounce, which was suppressed by the decision of the US Federal Reserve (Fed) to keep the interest rate constant, is trading around $1954 in a horizontal view.
Arda Cosar also shared his gold forecast with the following words:
“The main factor that is pressing gold right now, the Fed may raise interest rates again, but I do not expect it to fall below $1950. After consolidation, I expect gold to rise above $2,000.”
How much should gold be?
In the country, gram gold finds buyers at ₺1483.
Experts show ₺1500 as resistance and ₺1300 as support for the short term under grams.
Source: Trthaber / Prepared by Irem Yildiz