GOLD BULLISH IF BREAK 73800 NEXT TARGET 74400
Last week we predicted that Gold can touch 2333$ on lower side. It actually touched 2332$ on lower side. We also predicted that
Our #Gold Range Prediction from 20/05/2024 to 24/05/2024 is as under.
Gold Spot : 2366$-2481$
Gold INR 728000- 74500
If break 73800 next move Upside
If not break 73800 can bounce back
Alerts ⚠️ Trade with stop loss
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
This are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
Our #Gold Range Prediction from 20/05/2024 to 24/05/2024 is as under.
Gold Spot : 2366$-2481$
Gold INR 728000- 74500
If break 73800 next move Upside
If not break 73800 can bounce back
Alerts ⚠️ Trade with stop loss
It must be remembered that price of precious metal depends on so many world wide factors like inflation, Fed interest rate, trade barrier, geopolitical tension, demand, supply, bond yield, dollar index , GDP, payroll data, CPI, currency fluctuation, debt ceiling , other commodity price crude oil etc. etc. and hence there can not be any accurate barometer of predicting precious metal price.
Gold INR has been calculated taking Gold Spot international price and converting the same assuming fixed Indian rupee rate. However, this is not accurate method as change in rupee value to dollar can substantially impact Gold INR price. Pl. note that price of commodity doesn't depend upon performence of company but depend upon performence of world economy, hence it is extremely risky to trade in commodities. Commodities market also become more volatile during contract expiry.
This are not a recommendation for buy or sell. This view is only for educational purpose. You are requested to consult your financial advisor before entering in to any trade.
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