By Dr. Renisha Chainani, Head- Research, Augmont – Gold for all
With a demonstrated track record of delivering exceptional research outcomes and actionable insights in the bullion market, I am honoured to highlight the research performance metrics of 2024 for the strategies that are published in the Augmont Daily Reports and Weekly Blog.
Highlights of my tracker include:
- Win Rate: An impressive 95% with 66 recommendations given in 2024, showcasing the accuracy and reliability of my research-backed recommendations.
- Success Ratio: A remarkable 88% with 66 recommendations given in 2024, demonstrating my ability to identify high-probability opportunities in the volatile bullion market.
- Cumulative Returns: Generating outstanding 185% returns for clients, underpinned by a robust analytical framework and deep market understanding.
- Gold Recommendation Performance: Delivered 65% returns, compared to the benchmark return of 21%.
- Silver Recommendation Performance: Generated 120% returns, far exceeding the benchmark return of 18%.
These achievements are rooted in a combination of fundamental, technical and sentiment analysis, coupled with a keen awareness of macroeconomic and geopolitical factors impacting the bullion market. My research has consistently prioritized clarity, precision, and actionable strategies, fostering trust among institutional and retail jewellers alike.
*Note: These strategies can be back-tested by clicking the recommendation date and Target achieved date in the table below
| Rec Date | Recommendation | Movement /Points covered | % Return | Tgt achieved on |
| 01-Jan-24 | The possibilities are that the Gold bull run won’t end until $2300 (~Rs 70000). | 6800 | 10.8% | 04-Apr-24 |
| 01-Jan-24 | I am predicting a 20% higher target of $30/oz (~Rs 90000) by the end of the year 2024 in Silver. | 15700 | 21.1% | 17-May-24 |
| 10-Jan-24 | Gold prices have broken the up trendline support of $2045 (Rs 62600), and we can see profit-booking up to $2010 (Rs 61300) | Price fell towards 61500, but Target not achieved | 0.0% | 17-Jan-24 |
| 10-Jan-24 | Silver prices are trading at its important support near $23 (Rs 71800), we can see a rebound from these levels to $24 (Rs 75000) | Prices rebounded till @23.60, but Target not achieved | 0.0% | 12-Jan-24 |
| 17-Jan-24 | Gold prices are trading around its support level of Rs 61900-62000, if prices sustain below it, it can fall to Rs 61200 | Price fell towards 61500, but Target not achieved | 0.0% | 17-Jan-24 |
| 17-Jan-24 | Silver prices are trading around its support level of Rs 71800 – 72000, if prices sustain below this level, it can fall to 70000 | 2000 | 2.8% | 22-Jan-24 |
| 02-Mar-24 | A significant breakout in gold over $2100 (Rs 64000) would signal the start of a strong uptrend. The next resistance level for gold is Rs 65000, while support might be found at Rs 63000. | 1000 | 1.6% | 06-Mar-24 |
| 02-Mar-24 | Silver is projected to head higher towards Rs 74000, with firm support at Rs 71000. | 2700 | 3.7% | 08-Mar-24 |
| 05-Mar-24 | Gold price is finally out of the range and given a bullish breakout from the range-bound trading. Prices are expected to continue their bullish momentum till $2150 in the short term | $50 | 2.4% | 06-Mar-24 |
| 05-Mar-24 | Silver prices also break the range and give a bullish breakout to $24. Prices are expected to continue positive momentum till $25 in the short term. | $1 | 4.2% | 12-Mar-24 |
| 07-Mar-24 | Gold prices have cleared the resistance of the previous record high of $2150 (~Rs 65000) and now prices are heading higher towards the next psychological resistance of $2200 (~Rs 66500). | $50 | 2.3% | 08-Mar-24 |
| 09-Mar-24 | As gold prices have run up too fast in the last week, we could see a bit of correction and retracement up to $2155 (~Rs 65000) and $2125 (Rs 64400). | $45 | 2.0% | 18-Mar-24 |
| 16-Mar-24 | Silver Prices have crossed the resistance of $25 (~Rs 75,000) and heading higher towards $26 (~ Rs 77000) | 2000 | 2.7% | 21-Mar-24 |
| 03-Apr-24 | Gold has moved to unchartered territory with prices seeing hyperbolic move above $2300 (~ Rs 69400). If this momentum continues, the next resistance level is $2350 (~Rs 71000). | $50 | 2.2% | 09-Apr-24 |
| 03-Apr-24 | Silver prices have finally given a break out of its range at $26 (~Rs 77000). The next resistance to watch for is $27 (~Rs 80000), if that is also sustained, then no one can stop Silver from moving towards the $30 (~Rs 90000) target in 2024. | 3000 | 3.9% | 12-Apr-24 |
| 09-Apr-24 | The next target or resistance for the price is $2350 (~Rs 71000) and $2400 (~Rs 73000), | $50 | 2.1% | 12-Apr-24 |
| 12-Apr-24 | As forecasted, gold has achieved the short-term target of $2400 (Rs 72500). Gold has achieved all the targets and is in the overbought zone. It seems gold prices can top out today and fall steeply next week. | 2000 | 2.8% | 23-Apr-24 |
| 12-Apr-24 | Silver has touched important resistance of $29 (Rs 84000), the rally seems to be in the overbought zone. One should book profits and wait for correction. | Rs 4000 | 4.8% | 23-Apr-24 |
| 25-Apr-24 | Silver has got strong support around $27 and an uptrend line extending from $22 to $30 on daily charts. If prices sustain above $27.5, it can head higher to $28, and if prices fall below $26.80, it can fall further to $26.30. | $0.50 | 1.8% | 02-May-24 |
| 26-Apr-24 | Silver has got strong support around $27 and an uptrend line extending from $22 to $30 on daily charts. If prices sustain above $27.5, it can head higher to $28, and if prices fall below $26.80, it can fall further to $26.30. | $0.51 | 1.8% | 03-May-24 |
| 27-Apr-24 | Silver has got strong support around $27 and an uptrend line extending from $22 to $30 on daily charts. If prices sustain above $27.5, it can head higher to $28, and if prices fall below $26.80, it can fall further to $26.30. | $0.52 | 1.8% | 04-May-24 |
| 28-Apr-24 | Silver has got strong support around $27 and an uptrend line extending from $22 to $30 on daily charts. If prices sustain above $27.5, it can head higher to $28, and if prices fall below $26.80, it can fall further to $26.30. | $0.53 | 1.8% | 05-May-24 |
| 14-May-24 | While for Silver resistance zone is $29 (~Rs 85700), if prices sustain above this level, we can expect prices to touch the previous high of $30 (~Rs 88000) again. | $1 | 3.4% | 17-May-24 |
| 17-May-24 | If silver prices sustain above $30, then it can head higher towards $32 (~Rs 91000). | $2 | 6.7% | 20-May-24 |
| 21-May-24 | Gold has made a double top around $2450, prices are expected to retrace now towards $2380. | $60 | 2.4% | 23-May-24 |
| 21-May-24 | Silver has strong support at 92000, if prices sustain below this level, it means it has topped out and is expected to retrace further towards 90000 and 87500 | Rs 2000 | 2.2% | 03-Jun-24 |
| 23-May-24 | Gold retracement is expected to continue towards $2345-50 (Rs 72000) | $30 | 1.3% | 24-May-24 |
| 06-Jun-24 | if gold prices sustain above $2365 (Rs 72700), we are likely to see follow-through buying. Now it seems, gold prices can confront stiff resistance and remain capped near the $2400 (~Rs 73500) mark. | $35 | 1.5% | 07-Jun-24 |
| 07-Jun-24 | As suggested, if gold prices have strong resistance at $2400 (~Rs 73500), prices are crossed this resistance. Now next target is the previous high of $2450 (~Rs 74500) | Price reversal, Target not achieved | 0.0% | |
| 07-Jun-24 | Silver prices trade above $31 (~Rs 92500) and are expected to head higher towards $32 (~Rs 95000) now. | Rs 2500 | 2.7% | 07-Jun-24 |
| 04-Jul-24 | Silver is trading in a range with a descending trend channel with lower highs and lower lows. A sustainable close above $31(Rs 92500) will give a breakout towards the previous high of $32.5 (Rs 96000) | Rs 3500 | 3.8% | 11-Jul-24 |
| 11-Jul-24 | If gold surpasses last week’s top of $2393, it will likely reach the next all-time high of $2450 (Rs 75000) | $57 | 2.4% | 15-Jul-24 |
| 23-Jul-24 | If $29 (Rs 90000) is taken away, we can see prices falling towards $26.5 (Rs 86500). | Rs 3500 | 3.9% | 23-Jul-24 |
| 24-Jul-24 | If Silver falls below Rs 85000, it can fall further towards Rs 84000 | Rs 1000 | 1.2% | 25-Jul-24 |
| 29-Jul-24 | Silver prices seem to have formed a base around Rs 78000 in the short-term and a rebound is expected from here with the next resistance of Rs 85500 | Rs 7500 | 9.6% | 20-Aug-24 |
| 31-Jul-24 | Gold has rebounded towards $2460 (Rs 69000). The next resistance is $2475 (~ Rs 69500) and the previous high of $2488 (~ Rs 70000). | Rs 1000 | 1.4% | 01-Aug-24 |
| 02-Aug-24 | As gold has crossed all resistance trading above $2500, the sky is the limit. The next resistance could be psychological levels of $2525 (~ Rs 71000) and $2550 (~Rs 71700). | $50 | 2.0% | 20-Aug-24 |
| 27-Aug-24 | Gold buyers must reclaim the record high of $2532 (Rs 72270) before confronting the next important hurdle at $2550 (Rs 72500). Acceptance over the latter might attempt the $2600 (Rs 75000) round barrier en route to the triangle goal of $2660 (Rs 76500). | $110 | 4.3% | 25-Sep-24 |
| 06-Sep-24 | Silver is gradually recovering from very important support of $28 (Rs 82500) and heading towards its resistance zone around $30.5 (Rs 88000). | Rs 5500 | 6.3% | 13-Sep-24 |
| 11-Sep-24 | If Gold breaks its previous high of $2530, we could see new highs of $2550 (~Rs 73000) and $2600 (~Rs 75000) in the short-term | $70 | 2.8% | 13-Sep-24 |
| 13-Sep-24 | Silver is moving closer to its previous resistance of $ 30.8 (~Rs 86000), once it is cleared, the next level to watch for is $32 (~Rs 90000) | Rs 4000 | 4.7% | 16-Sep-24 |
| 19-Sep-24 | After touching the $2600 target, gold prices are now expected to see some profit booking and retracement up to $2500 (~Rs 71800) and $2475 (~Rs 71000) | Price didn’t see profit booking, Target not achieved | 0.0% | |
| 26-Sep-24 | After touching the $2650 resistance, gold prices continue their bullish momentum to $2700 (~Rs 76000). | $50 | 1.9% | 27-Sep-24 |
| 26-Sep-24 | Silver has started its bullish momentum touching a high of $32.5 (~Rs 95000) getting support from the gold rally. The next resistance is $33 (Rs 96000). | Rs 1000 | 1.1% | 27-Sep-24 |
| 09-Oct-24 | Gold has broken important support of $2650 (~Rs 75400) and is aiming for $2600 (~Rs 73500) next. | Prices made low of Rs 74750 and then rebounded. Tgt not achieved | 0.0% | |
| 09-Oct-24 | Silver has broken the important support of $31(~Rs 91500), aiming for $30 (~Rs 87500) next. | Prices made low of Rs 88200 and then rebounded. Tgt not achieved | 0.0% | |
| 11-Oct-24 | Gold has rebounded from the level of $2618 (~Rs 74750) and heading high towards $2700 (~Rs 76400). | Rs 700 | 0.9% | 16-Oct-24 |
| 11-Oct-24 | Silver has rebounded from the level of $30.35 (~Rs 88220) and heading high towards $32.5 (~Rs 93500). | Rs 3000 | 3.2% | 16-Oct-24 |
| 16-Oct-24 | Gold is moving towards the higher side of the range towards $2685 (~Rs 76500). If prices sustain above this resistance, the next target is $2700 (~Rs 77000) and $2750 (~Rs 78500). | Rs 2000 | 2.6% | 22-Oct-24 |
| 16-Oct-24 | Silver is moving towards the higher side of the range towards $32.5 (~Rs 93500). If prices sustain above this resistance, the next target is $33 (~Rs 95000). | Rs 1500 | 1.6% | 18-Oct-24 |
| 22-Oct-24 | Gold continues to rise steadily across all time frames (short, medium, and long), and it is currently headed towards its next goal, which is $2800 (~Rs 80000), after breaking over the $2700 barrier. | Rs 1500 | 1.9% | 30-Oct-24 |
| 22-Oct-24 | Silver prices are trading at a 12-year high; after clearing the level of $33 (~Rs 95000) and it is likely to touch the next psychological target of $35 (~Rs 100,000) very soon, before heading for a correction. | Rs 1500 | 1.5% | 23-Oct-24 |
| 25-Oct-24 | If Silver sustains below $33.60 (~Rs 96500), we could see more profit booking to $33(~Rs 94800). | Rs 1700 | 1.8% | 31-Oct-24 |
| 07-Nov-24 | Gold has broken important support of $2720 and now heading towards $2620(~Rs 74800) and $2500 (~Rs 71500) this month. | $80 | 3.0% | 12-Nov-24 |
| 07-Nov-24 | Silver has broken important support of $33, now heading towards $31 (~Rs 91,000) and $30 (~Rs 88000). | $1 | 3.1% | 12-Nov-24 |
| 12-Nov-24 | Gold has achieved the first target of $2620 (~Rs 77000) and Silver has achieved the first target of $31 (~Rs 92000). More weakness is expected up to $2565 in Gold and $29.80 in Silver. | $55 | 2.1% | 14-Nov-24 |
| 14-Nov-24 | Prices could continue to weaken more up to $2500-20 (~Rs 72800-73000) in Gold in the next few days | Price didn’t see profit booking, Target not achieved | 0.0% | |
| 14-Nov-24 | Prices could continue to weaken more up to $29.70 (~Rs 87000) in Silver in the next few days | $0.50 | 1.7% | 14-Nov-24 |
| 18-Nov-24 | Gold prices have made a short-term bottom now and are expected to rebound again towards Rs 75000 and Rs 77000. | Rs 2500 | 3.4% | 22-Nov-24 |
| 18-Nov-24 | Silver prices have made a short-term bottom now and are expected to rebound again towards Rs 92000 and Rs 95000. | Rs 2500 | 2.8% | 03-Dec-24 |
| 25-Nov-24 | We are likely to see profit-booking and consolidation in gold prices this week as prices have run up too much too far. Important support levels are 50 DMA around $2650 (~Rs 75500). | Rs 1000 | 1.3% | 26-Nov-24 |
| 10-Dec-24 | Silver prices have given a breakout from its one-month range of Rs 87000 to Rs 94000. Prices need to sustain above Rs 94000 to continue its rally towards Rs 96500. | Rs 2500 | 2.7% | 12-Dec-24 |
| 11-Dec-24 | Gold has broken its consolidation trading range by breaking the barrier of $2720 (~Rs 78000). The next target is $2760 (~Rs 79000). | Rs 1000 | 1.3% | 12-Dec-24 |
| 13-Dec-24 | Silver prices were not able to sustain above the resistance of $32.30(Rs 96500) and hence corrected. The next level to watch for is $30 (Rs 89000-89500) on the downside for a few days now. | $1 | 3.2% | 18-Dec-24 |
| 19-Dec-24 | If Gold prices rebound, it can bounce back to $2680 (Rs 77000) | $70 | 2.7% | 02-Jan-25 |
| 19-Dec-24 | Silver has broken a very crucial level of $29.70 (Rs 88500), the next target is $29 (Rs 87000) | $0.7 | 2.4% | 19-Dec-24 |
Disclaimer: This report contains the author’s opinion, 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 opinions mentioned above 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.