On 21st Dec 2022, we advised buying gold around $1820 (~Rs 55000/10 gm) in the report titled “Inverse Head and Shoulder pattern target Rs 60000 for Gold in 2023” for the target of Rs $2020 (Rs 60000/ 10 gm)in 2023.

This target is achieved yesterday as Gold prices hit a high of Rs 60450 in the domestic market amid the banking crisis.

Long positions should be booked and one should wait for prices to correct to initiate new buy positions, as the long-term outlook is still bullish on Gold.