By Dr. Renisha Chainani, Head-Research, Augmont – Gold for All.
Gold and Silver prices are soaring up again now with prices trading close to Rs 56000 and Rs 68000 respectively. It has been communicated repeatedly in my Daily reports and Weekly blogs about these levels over the last two months, and the target has been achieved in all of these reports. Find below the list of various recommendations given and its target levels:
| Publishing Date of the Report | Recommendation | Target Achieved
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| 22-Oct-2022 – Diwali Special – Samvat 2079 View on Gold | The first Hurdle for Gold prices is Rs 52000, it prices sustain above it, it can touch Rs 55000 and 58000 by Diwali next year. While the downside seems very limited, the recent low of Rs 49000 is very strong support. | Buying advised for Gold at Rs 52000
Target for Gold – Rs 55000 |
| 12-Nov-2022 – Gold at a Turning Point | Domestic gold prices seem to have made short-term bottom around Rs 50000/10 gm and as prices have given weekly close above important downtrend line channel resistance of Rs 53000, it seems Rs 56000 and Rs 58000 is on the cards in few months | Buying advised for Gold at Rs 53000
Target for Gold – Rs 56000 |
| 19-Nov-2022 – Bullion likely to retrace before a sharp runup rally | Silver is moving in sync with gold, bottoming out at around $18. Silver, on the other hand, increased by more than 23 percent and traded just above $22 (~Rs 62500). After breaking the trend line, silver is lying on a support and the EMA200 at $20.5 (~Rs 60000), providing a long-term buying opportunity. If silver can break through the current support level, it might reach $24(~Rs 68000) or higher | Buying advised for Silver at Rs 62500
Target for Silver – Rs 68000
|
| 4-Dec-2022 – Gold and Silver are glittering again | Buy on dips should be the strategy used for next targets are Rs 54000 and Rs 67000 respectively in the month of December.
|
Buying advised for Gold at Rs 53000 and Silver at Rs 64000
Target for Gold – 54000 and Silver 67000 |
Those who have missed to this rally, they can still take advantage as targets for 2023 are Rs 60000 for Gold as recommended in “Inverse Head and Shoulder pattern target Rs 60000 for Gold in 2023“ blog and Rs 85000 Silver as recommended in “25% upside expected in Silver in 2023“ blog. Do not miss to watch this space every weekend in 2023 for further targets.