Gold Futures discussion
GOLD1! Gold level support and resistance refers to key price levels on a chart where the price of gold tends to find support or resistance. Here’s a brief overview:
Support
Definition: A support level is a price point where demand is strong enough to prevent the price from falling further. Traders often see this level as a buying opportunity.
Indicators: Look for previous lows, moving averages, or Fibonacci retracement levels that coincide with this price.
Resistance
Definition: A resistance level is where selling interest is strong enough to prevent the price from rising. Traders often view this as a selling opportunity.
Indicators: Check for previous highs, trend lines, or Fibonacci extensions that align with this price.
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GOLD1! Please don’t Chase the market Moves, You’ll blow up!BE PATIENT V PATIENT FRIENDS !
Capital is precious and moves are always there
GOLDV2024 Last week we predicted that Gold can touch 2526$ on higher Side, It actually touched 2529$ on higher Side.
Our Spot #Gold Range Prediction from 09/09/2024 to 13/09/2024 is as under.
Gold Spot : 2471$-2545$
Gold INR : 70800-72900
Our Spot #Silver Range prediction from 09/09/2024 to 13/09/2024 is as under.
Silver Spot: 26.78$-28.66$
Silver INR: 79500-85050
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 , expected tax & duty changes, 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.
These 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.