I estimate that it will be possible for the Euro-Dollar parity to retreat by one point to 1.06 this week. Our expectations in the medium and long term continue. This target is 1.12 and then 1.15.
As of now, the ounce of gold is at the 1984 dollar level. It rose above the $2000 level on Friday. It finished the week at 1993 dollars. I had previously warned that it should be withdrawn to the 1960 dollar level. Let's see how long it can hold below the 1980 dollar level. I continue to follow this place closely, but the trend is upward in gold prices. Especially on the ounce side, we see an ounce settling above the 2000 dollar level by the end of this year, and it may continue these rises up to the 2350 dollar level in 2024. After one last profit sell, one last correction, the target level is $2350.
The ounce price of silver is at $23.08. The $22.80 support level is strong here. In the next 24 months, the 26 dollar level will be targeted. I think silver will rise faster than gold. You need to pay attention to silver, especially in December. When you wake up one morning, the reason for the sharp rise in silver will be the decline in the ratio. Silver investors should not rush, silver always has the last word, just like last year and the years before that.
Oil prices are at $86.01 with a 1.5% premium. It hovered between 85 - 87 dollars today. It continues to fluctuate in broadband range. A decline to the $83 level may be possible, but there is a $90 level above again. As long as this geopolitical tension continues, this fluctuation in oil prices will continue. That's why during this week, one day you will see falling news in oil prices and the other day you will see rising news. We will be faced with an oil price that zigzags like this.
Bitcoin, one of the cryptocurrencies, has a 1.5% premium at $ 35153 on the first trading day of the week. For the rise to be permanent, it must be above the $38000 level. It's still early now. I continue my sales-oriented forecast.
The dollar index is at $104.94. The dollar index may try 105.50 - 106.50 again, especially from these levels. So the dollar index may recover a little after such harsh sales. Therefore, a rise in the dollar index means a decline in the gold ounce, silver ounce, Euro-Dollar parity, sterling-dollar parity against the dollar and a buying opportunity.
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