İslam Memiş: Warning to Gold Investors – Stay Away (September 8)

Lid Network Wallet Attack The Lid Network Federation wallet suffered a security breach that resulted in the theft of approximately 4,000 Bitcoin, worth about $320 million.
Network transactions were temporarily halted, reigniting concerns over crypto security.
Market Reaction and Gold Demand Central banks’ heavy gold purchases and global investment banks’ year‑end gold price forecasts have pushed the price of a 1‑ounce gold bar to around $5,000.
China’s central bank has maintained uninterrupted gold buying for 22 months, and in the past four years, central banks worldwide have increased their net gold holdings by more than one tonne, reinforcing gold’s status as a safe haven.
Technical Levels and Outlook Analyst İslam Memiş outlined the key support and resistance levels for gold: a ceiling at $4,600 and a floor at $4,300.
The current market sits near $4,400, and a breakout within this range is expected.
Interest Rate Decisions and Economic Developments Memiş predicts that interest rates will remain unchanged.
The European Central Bank and the United States will announce their rate decisions and inflation data on Thursday.
Oil Prices and Geopolitical Risks Oil prices opened strong at $97 a barrel this week.
Tensions in the Strait of Hormuz are increasing risk appetite, and Brent crude is expected to reflect these dynamics in pump prices.
Investor Warning “This week, short‑term trading should be avoided.
Volatility is expected, and Thursday will be a critical threshold,” said Memiş.
He urged investors to exercise caution during this period and focus on long‑term strategies.