As you know, the Palestine-Israeli war has broken out in the Middle East and we are going through a serious period. Because we have started a week in which geopolitical risks, that is, war, in which different countries may be involved, are escalating. Again, this war and geopolitical risk tension is a factor that accelerates sales in all global stock markets. We have all seen that the sales continue in the stock markets, especially in the Middle East and other countries, and I can say that I see a strong possibility that the shooting wave in the stock markets in global markets will continue again.
Euro-Dollar parity started the week with selling. The band range I followed yesterday at 1.0541 level is the band range I will follow in the short term as the bottom and peak level on the 1.350 - 1.0650 euro side. This is where there is no desire to go below the 1.05 level, which means there is a resistance of 1.06 above. We may see resistance at 1.06 this week. 1.0650 - 1.680 may test the 1.07 resistance this week. In other words, we observe that there is not much desire to sag below the 1.05 level.
An ounce of gold was at the level of 1850 dollars yesterday. It completed last week at 1833 dollars. The range here is between 1800 - 1880 dollars. Currently, we are facing 1850 dollars per ounce. We will continue to follow the $1880 resistance this week. Again, there is no change in my prediction for the $ 2,000 level at the end of the year, especially in the last months of the year. Again, there is no change in my prediction regarding the 2350 dollar level. Therefore, ounces of gold despite all the turmoil in the market, ounces of gold despite such great geopolitical risks, ounces of gold despite such high inflations and returned inflation, ounces of gold despite global economic uncertainties. It remains cheap. In my opinion, the ounce price of gold is free below the $2,000 level. Why is there an increase in value of 1850 dollars these days, from 20 dollars to 25 dollars? Since the risk of war has begun in the Middle East, however, since it is a very serious risk and there is a high probability that several countries will be involved in this process, there is a high probability that these prices will continue their upward movements. Despite such great risks, despite the fact that oil prices have risen so much, despite the fact that energy prices will rise, or despite the fact that inflation is on the rise again, the 1850 dollar level is free. Again, this shows us that the price is suppressed. I would like to make a warning about the ounce price of gold. It continues to be suppressed under today's conditions. However, if things get a little more complicated in the Middle East, if it reaches a dead end, if different countries are involved in this process, no one will be able to keep the gold and silver prices this time. We continue to follow the process closely. We continue to monitor incoming news feeds. We will all see that gold prices will continue to rise again on an ounce basis in the coming period.
Ounce Silver was at the level of 2176 dollars yesterday. I continue to follow the 2250 resistance here. Here too, silver prices, which will continue their upward movements rapidly, continue to stand before us.
The rise in oil prices is normal, not remarkable or surprising. Because oil producing countries are at such an intense risk of war in the Middle East and OPEC members are included in this risk, oil prices gained 5% in value yesterday and rose to 89.5 dollars. Currently, there is a 4.5% increase in value at the 87.60 dollar level, it is normal and natural. Especially oil prices will continue to rise the longer this process continues.
There may be rapid increases in energy prices and rapid increases in natural gas prices. I continue to expect rapid increases in oil prices. I expect inflation to wreak havoc on the whole world. With the rise in energy prices, all world economies will enter turbulence. Prepare for the great flood. Today's conditions are just the first day, these are not a thing yet. Where will the process evolve in the coming weeks, the coming days? Human beings get used to things very quickly. He gets used to tears and blood very quickly. After a week or two, people will begin to normalize. First, there will be a lot of social media sharing. Oh, woes, etc. One side will hold this place, the other side will hold there, but after a few weeks, everyone will get used to this process. After that, from the moment this geopolitical risk is over, there will be a period in which global economic crises will erupt and days will await us in which we will look forward to each passing day in terms of world economies.
There is a particularly volatile trend in the cryptocurrency market. There was a 1.74% depreciation at $27,501 yesterday. The range of $23,500 - $28,500 remains valid here. However, I expect a recovery in the Cryptocurrency market after the 15th of next week. Commodity prices have recovered well. At least he reacted and made what we call a dead jump. Here, it can make upward movements after the 15th of the month.
The dollar index continues its efforts to keep above 106 levels. I will follow the $105 level in the dollar index's downward movements again. The dollar index may face some more profit sales.
This week is very important in global markets. Because inflation data will be announced in America this week. An inflation figure of 4% or above 4% will be announced. Inflation was 3.7% last month. We will all see how quickly these inflation figures will rise. In other words, it will show us that the system that tells you that there is temporary inflation is not actually faced with temporary inflation. Again, with the Israel-Palestine war, there will be a period in which psychological warfare will begin with intense tears and blood in the coming days.
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