Gold scores highest monthly gain in last three years

Fundamental Q News and Triggers

Gold prices rose from Rs 56200 to Rs 61280, a whopping 9% gain in October, the highest in the last three years on Geopolitical tensions in the Middle East.

At first, there was fear that the fight between Israel and Hamas would spread to other parts of the Middle East and become much more extensive. That’s exactly what’s happened with the ongoing conflict between opposing groups encircling Israel on numerous borders and the IDF’s ground assault on Gaza.

Moreover, the markets predict that the Fed will maintain current rates during today’s crucial FED meeting, with signals for future rate trajectories expected from Chairman Powell’s press conference following the meeting and Fed guidance.

Technical Triggers

Gold prices, if sustained below 61000, can retrace up to levels of Rs 60200, due to profit-booking of
a steep rally

Silver prices if sustained below 71000, can retrace up to Rs 70000 due to profit booking.

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.


Share on