Gold crosses $2000/oz and Rs 60000/10 gm

Fundamental News and Triggers

Gold prices touched an all-time high in India trading above Rs 60450/10 gm and one year high of $2014/oz at international markets amid uncertainty on the banking crisis and FOMC decision.

This uncertainty arises from the upcoming FOMC decision on whether to pause or raise interest rates by 25bps. Second, and equally important, is the current banking crisis, which has now spread globally to include Switzerland’s Credit Suisse.

Parabolic rally and volatility is expected to continue for 1-2 days until FED meeting, as there are lot of positions being squared off, margin call triggers, stoploss triggers, that are chasing the financial markets.


Technical Triggers

Gold prices have run up 10% in last 10 days from levels of Rs 55000 to Rs 60450. We could see consolidation in prices today.

Silver has underperformed than Gold in last 10 days, so its bull run is expected to continue. Next target for Silver is Rs 70000 and Rs 72000 in short-term.

Support and Resistance 




Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advices. The author, Directors, 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 the information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors and 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 an 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 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 purpose and are not to be construed as investment advices.


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