By Dr. Renisha Chainani, Head- Research, Augmont – Gold for all
Please find the Performance Tracker of Recommendations given in the last six months of 2023, through Daily Reports and Weekly Blog. All major trends in Gold and Silver prices are captured in these recommendations with more than 90% accuracy. Click on recommendation dates to verify the details.
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| Sr No. | Rec Date | Recommendation | Movement/ Points covered | Target achieved Date | |
| 1 | 03-Jul-23 | For those who were waiting to buy on dips, I think it’s a strategic time to buy gold around $1900 (~ Rs 58000) for the long term. | |||
| 2 | 04-Jul-23 | Gold prices have rebounded from strong psychological support of $1900 (~ Rs 57500), next resistance is $1950 (~ Rs 58700) | 400 | 05-Jul-23 | |
| 3 | 04-Jul-23 | Silver prices have critical support around $22(~ Rs 67000), which is a 50% Fibonacci retracement level of rally from $18 to $26. Prices have rebounded from that level heading towards the next resistance of $23.25 (~ Rs 70500) | 1000 | 05-Jul-23 | |
| 4 | 07-Jul-23 | Silver Prices have rebounded from 70300 heading towards the next resistance of $23.50 (~ Rs 71600) | 1300 | 11-Jul-23 | |
| 5 | 10-Jul-23 | A sustainable daily close above Rs 59000 will turn gold bullish for the short term, with Rs 60000 as the immediate upside target. | 1000 | 20-Jul-23 | |
| 6 | 11-Jul-23 | Silver prices have critical support around $22(~ Rs 68000) which is also 200 DMA and a 50% Fibonacci retracement level of rally from $18 to $26. Prices have rebounded from that level heading towards the next resistance of $23.50 (~ Rs 72000) | 1000 | 12-Jul-23 | |
| 7 | 13-Jul-23 | The spot price will continue to rise toward the subsequent leg higher of $1975 to $1985 as long as it remains stable above the demand zone between $1945 and 1940. | $25 | 18-Jul-23 | |
| 8 | 13-Jul-23 | The next resistance level for silver is $25.2. Silver has recovered and crossed key resistance at $23.5. | $1 | 14-Jul-23 | |
| 9 | 17-Jul-23 | Silver has crossed the important resistance of $25 (~ Rs 75000) and the next level to watch for is $26 (~Rs 78000). | Not achieved | ||
| 10 | 20-Jul-23 | Gold has cleared resistance of Rs 59600, the next level to look for is 60,000 and 60500 | 1st achieved | 20-Jul-23 | |
| 11 | 31-Jul-23 | A decisive break below 59000 the support could expose downside risks below Rs 58000. | low of 58300, so 700 points | 17-Aug-23 | |
| 12 | 01-Aug-23 | Last week’s low of Rs 73400 in Silver is very crucial, if broken can drag prices to Rs 71000 | 2400 | 07-Aug-23 | |
| 13 | 03-Aug-23 | Silver has broken important support of last week of Rs 73400, now prices are expected to downslide to 70400 | 3000 | 07-Aug-23 | |
| 14 | 11-Aug-23 | Gold has broken important support of Rs 58800, prices can slide down to Rs 58000 in the near term | low of 58300, so 500 points | 14-Aug-23 | |
| 15 | 11-Aug-23 | Silver has broken important support of Rs 70000, prices can slide down to Rs 68000 soon. | low of 69400, so 1400 points | 14-Aug-23 | |
| 16 | 23-Aug-23 | Silver has formed a base around Rs 70000 and is heading towards Rs 73000 in the short term. | 2000 | 23-Aug-23 | |
| 17 | 25-Aug-23 | Silver has formed a base around Rs 70000 and is heading towards Rs 75000 in the short term | 2000 | 30-Aug-23 | |
| 18 | 29-Aug-23 | Gold prices have finally broken the range of $1930-$1950, the next area of resistance is $1980 | $30 | 30-Aug-23 | |
| 19 | 06-Sep-23 | Silver prices are seeing profit-booking and next support is Rs 74000 and Rs 73000. | 1500 | 14-Sep-23 | |
| 20 | 08-Sep-23 | Silver prices are seeing profit-booking and the next support is Rs 71500 and Rs 70000 | 1800 | 14-Sep-23 | |
| 21 | 08-Sep-23 | Gold prices are facing strong resistance at $1980 (60000). The next support lies at $1935 (59000). | 150 | 12-Sep-23 | |
| 22 | 11-Sep-23 | The next targets for the bears could be Rs. 58300 and Rs. 58000 if the price of gold falls below Rs. 58800 | 800 | 14-Sep-23 | |
| 23 | 14-Sep-23 | Silver has broken important up trendline support of Rs 72000. Prices should get supported around 70000 now and then rebound | 2000 | 14-Sep-23 | |
| 24 | 15-Sep-23 | Gold prices have rebounded after touching important support levels of $1920 (Rs 58300) and heading higher towards a resistance of of$1960 (Rs 59100). | 400 | 15-Sep-23 | |
| 25 | 15-Sep-23 | Silver prices gave a dead–cat bounce after breaking the uptrend line at a touching low of Rs 70000. The next level to watch for is Rs 72300. | 600 | 15-Sep-23 | |
| 26 | 09-Oct-23 | Buy positions can be initiated in Gold in the range of Rs 56800-Rs 57000 for the target of Rs 57600 and Rs 58000 in the short-term | 1100 | 12-Oct-23 | |
| 27 | 09-Oct-23 | While Silver can be bought near Rs 68000 for the target of Rs 70000 and Rs 72000 in the short-term. | 2000 | 12-Oct-23 | |
| 28 | 10-Oct-23 | From current levels of Rs 57500, it appears that this momentum will likely continue to the next resistance levels of Rs 58000 and 58500 | 500 | 12-Oct-23 | |
| 29 | 16-Oct-23 | This rally is expected to continue towards $1965 (Rs 60000) for gold. | 1500 | 20-Oct-23 | |
| 30 | 16-Oct-23 | It seems the bottom has been made in Silver for the short term and the rally is expected to continue towards $24 (Rs 73500). | 2500 | 20-Oct-23 | |
| 31 | 20-Oct-23 | Gold prices continue their uptrend, after sustaining above resistance of $1950. The next level to watch for is $2000 (Rs 61000) | 1000 | 20-Oct-23 | |
| 32 | 23-Oct-23 | The gold rally seems overstretched, so those holding long positions are advisable to book profits because we might see some consolidation to profit-booking now | 1000 | 24-Oct-23 | |
| 33 | 26-Oct-23 | Once the Silver prices sustain above $23.20, they are expected to head higher towards $24. (Activated on 15-Nov) | $0.8 | 16-Nov-23 | |
| 34 | 01-Nov-23 | Gold prices, if sustained below 61000, can retrace up to levels of Rs 60200, due to profit-booking of a steep rally | 800 | 08-Nov-23 | |
| 35 | 01-Nov-23 | Silver prices if sustained below 71000, can retrace up to Rs 70000 due to profit booking | 1000 | 08-Nov-23 | |
| 36 | 02-Nov-23 | Silver prices are also consolidating, and if sustained above 72000, can rise to 73500. (Activated on 15-Nov) | 1500 | 16-Nov-23 | |
| 37 | 18-Nov-23 | The rally is gaining steam again with the next target for Gold being a previous high of $2018 (~Rs 61600) and then $2045 (~ Rs 62500). | 1800 | 28-Nov-23 | |
| 38 | 18-Nov-23 | Silver prices need to sustain above $24(Rs 73500) to resume their uptrend again and head towards $25.2(~Rs 76000) and $26.4 (~Rs 78000). | 4500 | 04-Dec-23 | |
| 39 | 25-Nov-23 | Silver has given Inv H&S breakout at $24 (~Rs 73500) for the target of $27 (~ Rs 82000) | Open – Long-term Recommendation | ||
| 40 | 28-Nov-23 | Once the gold prices trade above $2020 (Rs 61800) the next target would be $2080 (Rs 63000). | 1200 | 30-Nov-23 | |
| 41 | 28-Nov-23 | Silver has cleared strong resistance of $24 (Rs 73500), the next short-term target is $25 (Rs 76000) | 2500 | 30-Nov-23 | |
| 42 | 30-Nov-23 | Silver, after clearing the resistance of $25 (Rs 76000), the next level to watch for is $26 (Rs 78000). | 2000 | 04-Dec-23 | |
| 43 | 04-Dec-23 | One should be cautious now, as gold prices have run up very fast to $2080. We could see some retracement and profit booking in prices up to $2000 this month | $80 | 11-Dec-23 | |
| 44 | 16-Dec-23 | For the next 15 days, gold prices are expected to trade from Rs 61000 to Rs 63000. | same range bound movement | ||
| 45 | 16-Dec-23 | Silver Prices are expected to trade from Rs 73000 to Rs 76000 for the next 15 days. | same range bound movement | ||
| 46 | 23-Dec-23 | Gold prices are expected to rise at least 10% higher from current levels of $2060 (Rs 63000) towards $2250-2300 (Rs 69000-70000) in 2024. | Open – Long-term Recommendation | ||
| 47 | 23-Dec-23 | Silver prices to head 20% higher from current prices of $25 (Rs 75000) to $30 (Rs 90000) in 2024. | Open – Long-term Recommendation | ||
Take benefit of similar recommendations in 2024, keep an eye on the Insight page of Augmont Website: https://insights.augmont.com/
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Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advice. The author, Directors, and other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purposes and are not to be construed as investment advice