Gold price is outperforming silver today as risk on sentiment has increased after Poland was hit by a missile. Right after the news, gold witnessed a temporary price spike and was within touching distance of $1800. However prices have retraced back as findings are ongoing whether the missile is from Russia or Ukraine.
Neil Bhai
MCX Gold Price Forecast on Diwali 2023 By Neil Bhai [HINDI]
एमसीएक्स गोल्ड नियर टर्म फ्यूचर्स का कारोबार 48951 रुपये से बढ़कर 52119 रुपये हो गया है।
- सोने में लंबी अवधि के लिए 48200 के ऊपर जब तक है सोने को खरीद कर चलें
- 100% रिट्रेसमेंट 48951 रुपये और 52740 रुपये हैं। ये प्रारंभिक समर्थन और प्रतिरोध हैं।
- एमसीएक्स सोना निकट भविष्य में 48200 रुपये से नीचे गिरेगा, अगर यूएसडी/आईएनआर मूल्य के अनुसार सराहना करता है या गिरता है। 54500 रुपये के शुरुआती प्रतिरोध को तोड़ना भी आसान नहीं होगा, जब तक कि अमेरिकी डॉलर के मूल्य में सोने को कुछ मारक क्षमता न मिले।
- अगले साल की दिवाली तक देखने के लिए ट्रेडिंग रेंज रु.48200-रु.54500 है।
- 2023 की दिवाली तक 18 फीसदी की बढ़ोतरी एमसीएक्स पर सोना वायदा के लिए मुश्किल होगी। जो लोग पंद्रह प्रतिशत से अधिक निवेश रिटर्न की तलाश में हैं, उन्हें सोने से बचना चाहिए। मेरा न्यूनतम लक्ष्य अगली दिवाली तक दस प्रतिशत की वृद्धि है। भारत में सोने का निवेश रिटर्न भारतीय दस साल के बॉन्ड यील्ड के बराबर या उससे अधिक होगा, लेकिन निफ्टी फ्यूचर्स या चुनिंदा शेयरों में निवेश बहुत कम होगा।
Copper price sees weakness below $3.40 as recession fears escalate
Copper prices drop below Monday’s lowest price as recession fears have escalated in the US economy. The base metal has delivered a south-side break of the consolidation formed in a narrow range of $3.41-3.44 and is aiming for more weakness as accelerating interest rates are challenging growth rate projections.
Natural Gas Forecast: Natural Gas now looks at the 200-day SMA
Natural Gas Forecast: Prices of the natural gas extended the rebound from multi-month lows (October 24) amidst rising open interest and volume on Tuesday, hinting at the view that further recovery stays on the cards in the very near term. The next up barrier of note, in the meantime, appears at the 200-day SMA, today at $6.718 per MMBtu.
Silver Prices Target: Silver treads water above $19.55
Silver Price Target: Silver prices are trading higher for the second consecutive day on Wednesday, with the white metal (Chandi) extending its recovery from the $18.75 low on Tuesday to two-week highs at $19.75, where it seems to have found a significant resistance hurdle.
Gold And Rupee Forecast: Rupee has Depreciated sharply against the US dollar
Gold And Rupee Forecast: Rupee has depreciated sharply against the US dollar and it has been more of global factors that are keeping the rupee weighed down. On the domestic front, the concern is more to do with higher inflation following an uptick in global crude oil prices, and on the global front central bank action is influencing currencies, commodities, and treasuries.
China’s Economic Slowdown For The World Economy and the Gold Market
What does China’s economic slowdown imply for the world’s economy and the gold market? Well, as China dominates global demand for many raw materials, its economic slowdown should take some pressure off commodity prices. On the other hand, the series of lockdowns could prolong the supply-chain issues and, thus, a period of elevated inflation. This could be positive for gold prices, but as long as the Fed remains hawkish and determined to beat inflation, gold will struggle.
Crude Oil Price Rebound Evolves Into Bull Flag Formation
Crude Oil Price: The price of oil appears to be trading in a narrow range as it bounces along the 50-Day SMA ($87.54), but crude may attempt to retrace the decline from the monthly high ($93.64) as a bull-flag formation appears to be taking shape.
Spot Gold Weekly and Monthly Forecast [17-Oct-2022]
Spot Gold Weekly Forecast
Up trend report – Spot gold (Yellow Metal) An up trend will start soon, as the bullion market rises above hurdle key $1697, which will be followed by moving up to hurdle key 1752.
Silver Price Forecast: Silver Upside Potential Seems Limited
Silver Price Forecast: Silver finds some support near the $19.00 mark and stages a modest recovery from over a one-week low touched earlier this Wednesday. The uptick allows the white metal to snap a three-day losing streak and stall its recent sharp pullback from the $21.25 area, or the highest level since late June.