Economist Selcuk Gecer Reveals Shocking Gold Price Target of $5,000 for Near Future
Economist Selçuk Geçer has shared his insights on current affairs via his YouTube channel. Geçer has predicted a price of $5,000 for gold. He further asserted that this figure will be seen in the 'very near' future. 'In the event of another significant geopolitical tension, I am of the opinion that particularly gold and silver prices could make much sharper movements,' Geçer stated.
Economist Selçuk Geçer predicts a $5,000 per ounce price for gold.
The gold market has been experiencing a period of stagnation for some time now. Economist Selçuk Geçer has shared his predictions for gold. Drawing attention to the tension in the Middle East, Geçer stated, 'I see that gold prices exceeding $5,000 is imminent. We will witness an ounce of gold moving towards and beyond $5,000 under any circumstances.'
Geçer's forecast for gold prices is as follows:
'I believe that in the event of another major geopolitical tension, gold and silver prices, in particular, could make much more drastic moves. Gold has been flat in recent days. We clearly see that gold prices are establishing a base. People have started to consider the levels of $4,600-$4,700 as cheap. The same is true globally. Banks are also saying it's cheap. Just a year ago, the target was set at even $2,500. $4,500 was being discussed as unreachable levels.'
Economist Selçuk Geçer explained his three scenarios for gold prices as follows:
'We had said that gold will drag a bit; it is clearly doing that movement. So when will this story end? In which direction will gold evolve?
In the first scenario, the war will continue in a controlled manner. A controlled passage will also be ensured through the Strait of Hormuz during the war. Gold continues to remain flat. From the third quarter of the year, gold is highly likely to reach levels of $5,000-$5,500.
In the second scenario, the crisis in the Strait of Hormuz deepens. The Fed shelves interest rate cuts, there is an exit from the dollar and bonds. The rise in gold comes.
In the third scenario, the rapid rise in gold prices comes as it becomes an insurance.'
The statements in this content are not investment advice.
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