Will the price of gram gold, which is currently at 6,000 TL, continue to rise? 5 questions, 5 answers

Milliyet.com.tr/ÖZEL Gold, one of this year's most lucrative financial investment instruments, has seen significant increases in recent days. After starting the week at around $4,000, the price of an ounce of gold broke a record high of $4,380 on Friday.

Domestically, the price of gold per gram rose from 5,400 Turkish Lira at the beginning of the week to test above 5,900 Turkish Lira on Friday. At jewelers, the price of gold per gram rose above 6,200 Turkish Lira, while the price of a quarter- gold coin surpassed 10,000 Turkish Lira for the first time in history.

1-WHY DOESN'T THE HISTORICAL RECORD SERIES IN GOLD PRICES STOP?

With gold prices hitting an all-time high, there's also speculation about whether this historic record run will continue. So, what are the new expectations for gold? Here are five questions and five answers...

Sharing his market predictions with milliyet.com.tr, Hikmet Baydar, Founder of Third Eye Consultancy, said: “Serious statements are coming regarding the financial system. The IMF has expressed serious concerns about financial sustainability. The seizure of $14 billion in coins was the icing on the cake. This situation has now shown that the US could seize the Bitcoin market if it wanted to.

Meanwhile, Russian investors are switching to gold, hoping to avoid a freeze on their assets, while the Japanese have made significant gold purchases due to political tensions. Central banks' continued gold purchases are also paving the way for significant price increases.

2-WILL THE RISE IN GOLD PRICES CONTINUE? WHAT DO THE TECHNICAL INDICATORS SAY?

Technical indicators continue to signal bullish signals. However, there's an extraordinary situation. A technical risk indicator has reached an exceptional level of 90. According to the indicator, this represents a "risk peak." Some technical indicators also indicate an increasing risk of significant volatility.

As for the question, "Will gold prices continue to rise?", we can say that technical indicators are showing no downside signals, only volatility. Therefore, markets may fluctuate and rise in the coming days.

WHAT ARE THE NEW TARGETS FOR GRAM GOLD, WHICH HAS SEEN ABOVE 3-5,900 TL?

Gram gold, which has been trending parallel to the ounce of gold, may continue to do so. We could see a price of 6,000 TL per gram at any moment. However, the risk of volatility should not be overlooked.

$4,290 is a key short-term level for gold per ounce and should be closely monitored. It falls here very easily, but buying is also expected. If this level is broken, the probability of a decline increases significantly. If the price of gold per ounce reaches $4,290, our critical level for gold per gram will be 5,820 TL.

4-CAN YOU BUY GOLD FROM THESE LEVELS?

These levels are not very suitable for buying due to the extreme risk. They could be very vulnerable to negative news. If one were to ask, "Should we wait for a sharp correction before a potential buy?", I believe we should. The market is currently experiencing an extraordinary situation.

WHAT ARE YOUR YEAR-END EXPECTATIONS FOR UNDER 5-GRAMS?

"If there is no new news that will cause selling, the price of gram gold may reach 6,400 TL by the end of the year."