America's inflation has been announced. We have seen a fluctuation in the markets. There is an increase in gold prices and silver prices. There are especially sharp fluctuations in cryptocurrencies.
Euro - Dollar parity rose aggressively this week. I targeted the 1.12-1.15 band in the Euro-dollar parity. I consider every decline as a buying opportunity. This week we saw it rise to 1.0874. We even saw an increase in the euro - dollar parity up to 1.0885. Since there is currently a rapid rise at 1.0840, there will be reaction declines. A decline to 1.0770 - 1.0750 is possible. Medium and long-term investors can turn this decline in the euro into an opportunity.
We saw rapid increases on the ounce gold side. Currently it is at 1961 dollars. Yesterday, an ounce of gold rose to the level of 1975 dollars. As I have often stated, finish this job now. So those who will buy gold should finish this job. These days, I had warnings to finish this job and the day before, inflation figures were announced in America. Inflation data in America came below expectations. The low inflation data, which was announced as 3.2%, increased the expectation that the US Central Bank, the FED, would bypass interest rates at its December meeting. So the FED will not increase interest rates in December. There is no need to increase interest rates. That's why we saw sharp increases in sterling - dollar parity, Euro - dollar parity, gold and silver prices in all instruments against the dollar. Is there a continuation? Yes, there is, but it will be possible for us to see a short-term profit sale as of today. On the ounce gold side, I will continue to follow the 1930 - 1960 dollar range. These increases, especially on the ounce gold side, will continue in 2024. Our road map is the $2350 level.
Silver performed very well. I have often stated that silver will show off especially in the last months of the year, in November and December. I specifically pointed out the month of December and stated that Silver would have the final say. It is currently at a 1.5% premium at $23.46. I specifically stated that I expected the 24 and 26 dollar levels. We will all see that in the last month of the year, after breaking the 24 dollar level upwards in December, we will be faced with an ounce of silver targeting the 26 dollar level. Just like every year, if silver is kept for 11 months, it can show a performance that dethrones gold in one month. I say this often. I still maintain my positive expectations on the silver side, especially in December.
There are also sharp fluctuations in oil prices. There is currently a 1.26% depreciation at $81.40. It continues its effort to balance in the $80 - $85 range. It rose to $83.42 yesterday and was sold again. Even though it lingers in the range of 80 - 85 dollars, I also state that the outlook is positive and my expectation on the oil side is above the 90 dollar level. There is no change in my expectations on this side.
I especially drew attention to the Palladium side. This week's rises on the palladium side were also very important. Of course, it decreased significantly with this downward trend that started at $ 1350. $800 - $850 was seen. Currently, there has been a reaction at the level of 1038 dollars on the Palladium side. Although short-term fluctuations continue on the Palladium side as an alternative investment instrument, the direction is still upward in the medium and long term.
Things are completely complicated in the cryptocurrency market. It has become a complete manipulation market. It continues to hover between $35-38000. Currently, there is a 6.46% increase in Bitcoin at $ 37578. I personally think it is too high. Below are the violating areas. Technically, I think it should be withdrawn to $30000 here. We will also see the levels of 40000 - 41000 dollars, but you should be careful as these increases are unhealthy because they rise very quickly. As a person who is waiting on the negative side of Bitcoin, let me make this warning again. Of course, when we look at investment instruments, we will constantly see aggressive fluctuations in different instruments when there is a manipulation market. But my road map for November, wait on the sidelines. I had short term position opening warnings. I observe that those who currently maintain this position are currently protecting themselves from fluctuations in the markets.
The dollar index fell below the 104 level. It dropped to $103.82. It is currently at $104.26. We saw sharp declines in the dollar index, especially when inflation data in the United States was announced as low. On the dollar index side, my prediction for figures below 100 continues. I would also like to point out that 2024 awaits us when the dollar will lose its value in international markets and the value of assets against the dollar will increase.
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