Turkey’s crisis impacts on world financial markets

Turkey’s crisis impacts on equity Indexes, and shares all over the world dropped. European banking Index is down on displaying further uncertainty (Monday’s trading session).

The most significant for Turkey is improve relationship with both the United States and Germany which would improve its economic troubles.

Gold weakened further since Friday breaking the 1,200 but stabilized now. If the selling interest persists then may break the 1192.31 support barrier and aim lower for the 1186.47 support hurdle. On the other side, we could see gold aiming for the 1201.64 resistance level and even break it aiming for the 1208.35 resistance barrier. However, Gold has been on a downfall for months. Gold’s ability as a safe-haven has been turned down due to increases in U.S. interest rates.