With increasing geopolitical tensions, there is an expectation in the markets that the Federal Reserve will skip interest rate hikes. While the expectation that the FED will pass is building in the markets, an upward trend targeting the 2000 dollar level on the ounce gold side continues to stand before us. We observe that ounce of gold, which dropped to the level of 1828 dollars this week, is currently at the level of 1984 dollars. Today, it rose to the level of 1993 dollars during the day. I will continue to follow the 1950 - 2017 dollar range in the short term. However, one ounce of gold will continue to stand in front of us, wanting to settle above the 2000 dollar level at the first opportunity. Gold prices are trending upward.
Of course, silver has had a great performance this week in recent months. Especially at the $20 per ounce level, the declines will not be permanent. Be prepared for increases of two dollars each. I expect silver to reach $24 per ounce and then $26 per ounce. We saw that it rose from the level of 22 dollars to the level of 24 dollars today. Silver had a great performance this week. We saw that the ounce price of silver rose to $24.14 today. It is currently at $2384. Of course, after such an aggressive rise, there will definitely be profit sales. I will watch the $23.20 support levels. However, the target for the next attacks is the $26 level. Every decline should be considered as a buying opportunity. My positive expectation on the silver side still continues. Especially in the last two weeks, December is slowly approaching. Silver has the final say. I had warnings that silver would show off again in December. Again, this movement, this upward trend started in the second week of November. The possibility of the continuation of the rise in the ounce price of silver in December began to become quite strong.
We saw a good performance in the euro - dollar parity this week. In November, especially the 1.04 - 1.05 levels and 1.06 levels are very free and cheap. I've been stating this for months. Euro - Dollar parity is currently at 1.0873, we saw that it rose to 1.84 today. There is no deviation or change in our goal. 1.12 and then 1.15 is my target.
We also saw sharp fluctuations in oil prices. It is currently at $79. It continues to try to balance in the $77-79 range. In other words, it fell below the $80 level. Of course, this activity is not very healthy. There are very sharp fluctuations in oil prices. Since the dollar is strong, my expectation is that oil prices will continue their upward movements.
Both last week and this week, I told you about a different investment tool. And that is Palladium. On the Palladium side, there were declines below the $ 1000 level. With these setbacks on the Palladium side, if you want to add a different investment instrument to your basket, its name is Palladium. It fell from the level of $ 1320 to below the $ 1000 level. He backed down sharply. Because as the demand for electric vehicles increased, the demand on the Palladium side also decreased. However, Palladium is not just a metal or commodity used in electric vehicles. Therefore, we will continue to see upward movements. Currently at $1045, it has settled back above the $1000 level. I made statements about this issue last week. Upward movements may continue on the palladium side.
This week, we also saw sharp fluctuations on the Bitcoin side. We have seen sharp fluctuations in cryptocurrencies. We saw sharp fluctuations in gold and silver prices. We saw sharp fluctuations in the Euro - Dollar parity. However, if the investor took a short-term position, in my opinion, he did not make money and did not make the right decision. Because there is a fluctuating pricing in a very wide band range. I have made many warnings about sharp increases, especially on the Bitcoin side. Please be careful, $40000 will definitely be seen above the $37500 - $38000 level, but not now. Below are the violating foreheads. There are numbers like 34800, 34500, 33800 etc. that are violated below. Ascension is difficult without these breached areas forming. That's why it's useful to focus on wide bandwidth. Since 30000 dollars and 38000 dollars are in a very wide band range and uncertain pricing, you may be in the wrong corner here. Especially those who trade in cryptocurrencies should be careful.
The sterling - dollar parity had a horizontal process in this band range of 1.2150 - 1.2250. But I have often stated that these places will not be permanent, especially investors who hold dollars should definitely get acquainted with sterling. Sterling - dollar parity is currently at 1.2415 and the target is 1.30. Therefore, investors who hold dollars should know that sterling is priced at the same low price as the euro-dollar parity.
The dollar index also fluctuated very sharply this week. We also saw it above the $104 level. We also saw a rising dollar index, reaching as high as 104 - 105. The most announced in America inflation data had a significant impact here. It was announced as 3.2% on Tuesday. When inflation data came better than expected, the possibility of the FED increasing interest rates also weakened. Therefore, while the dollar is losing value in international markets, we observe that all investment instruments against the dollar have completed the week with new peaks and new rises. That's why we observe that this week, assets against the dollar have completed a week of celebration. In the coming weeks, we will continue to focus on geopolitical tension and war in the Middle East.
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