Caution for Investors: Warning in the Stock Market
Fatih Karahan was appointed as the new Governor of the Central Bank last week after Hafize Gaye Erkan resigned from her position. There has been speculation about what impact this change might have on the markets.
The stock market reached an all-time high on Friday with 8711 points. However, gram gold saw a decline after breaking a record at 2014 lira.
Despite the recent record-breaking trend, there is now uncertainty about the direction of the markets, especially with the change at the Central Bank. Economist Hikmet Baydar has warned investors to be cautious in the stock market amid the recent changes.
According to Baydar, the change in leadership at the Central Bank may have an impact on the markets, but he believes that the new Governor, Fatih Karahan, will not drastically change the current policies in place.
Market analysts are closely watching the markets to understand the potential policy changes under the new Governor. They are also assessing how the change in leadership might affect stock market trends in the coming weeks.
The Borsa Istanbul has seen upward signals since January and currently shows no signs of a major shift in trend. However, analysts advise caution due to the lower-than-average trading volume, suggesting the possibility of a peak in the market.
Looking ahead, analysts predict that two critical targets in the stock exchange could be between 8944 and 9100 points. They are also keeping a close eye on the price of gold, with medium-term upward signals, especially for gram gold.
Despite minor fluctuations, the trend seems to be upward for gram gold, and analysts expect it to rise above the 2000s level after testing support at 1980 levels in the coming days.
