Skip to main content

GOLD PRICE ANALYSIS FOR THE MONTH OF AUGUST 2021 AND UPCOMING DAYS

GOLD PRICE ANALYSIS FOR THE MONTH OF AUGUST 2021 AND UPCOMING DAYS

BY ANDREWS JOSEPH

  1. After a significant sell of in June we did see the price of gold recovered in July.
  2. But again on 5th August last Friday huge single day sell off and made a low 1758$.

  3. It will be interesting to see how it perform in coming days since it is last high made in the month of August 2020 last year 2075$.
  4. A good base was made and has traded in tight range in the month of March and made a double bottom and the price was almost 10% down since then.
  5. The reason for significant drop on Friday is the U.S unemployment data released on Friday which is positive for Dollar index and negative for precious metal.
  6. And the other reason is if we look at the US stock market indices like S&P 500 , Dow and Nasdaq composite continuously hitting all time high. Even when they correct it has bounced back strongly.
  7. Of course this will change in 2nd half of this year and gold will move up as investors remain cautious and concerned about high high valuations in stocks and inflation worries and this will play bullish for gold.
  8. Strong support level  low 1787$ , 1748 and 1721.
  9. Resistance level high 1916, 1870 , 1834.
  10. If gold breaks 1756 we will see new low but that is not going to happen.
  11. From my point of view is that gold is bullish will be safe bet and the current price is low and we can accumulate as much as we can.
  12. Gold will go up till $1900 in coming months and close to last year.
  13. Buy gold in the form of physical metal or sovereign gold bond .and stocks related to gold.
  14. Gold will always glitter and we may see this may be the least low of gold.

Disclaimer: This content is only for educational and training purpose and I don’t recommend any one to trade or invest based on the above information. Please consult your financial advisor.  

Comments

Post a Comment

Popular posts from this blog

NIFTY ALL TIME HIGH

Nifty all time high  By Andrews Joseph Nifty has opened with a big gapup today of more than 70 points breaking all the resistance level and Infact no resistance level as of now. Opened with all time high and closed with all time high. Last time the rally was led by few stocks and sector but this time the rally was even across all sectors except IT stocks, which I have mentioned in my previous blog that IT stocks are slightly over valued. Important sectors which is noticed to be banking sectors which has made a surprise rally despite of growing NPA concerns, next quarterly result will be crucial as to see which bank has taken measures to curb the NPA ,as per my previous blog you can notice that I have mentioned that banknifty will help nifty to cross All time high. And bank nifty is trading at resistance zone. Midcap and small cap stocks has start to perform especially midcap stocks, which will be a sign of relief for retailers those who have invested in midcap stocks and their port...

INDIAN BUDGET SUMMARY 2022

February 01, 2022 Andrews Joseph Some Hot topic for the budget: Import duties on gold, metal and consumer products Privatisation Capital infusion in psu banks Infrastructure Sector Agriculture Sector PLI schemes Taxation policy Defense Industry make in India Healthcare River link Ayushmaan bharat schemes Green Energy. INDIA FIN MIN SAYS INDIA RIVER LINKING FOR 5 RIVERS FINALIZED Draft DPRs of five river links, namely Damanganga-Pinjal, Par-Tapi-Narmada, Godavari-Krishna, Krishna-Pennar and Pennar-Cauvery have been finalized. Once a consensus is reached among the beneficiary states, theCentre will provide support for implementation. INDIA FIN MIN SAYS INDIA PLANS NEW PACKAGE FOR FARMERS WITH STATE GOVT For farmers to adopt suitable varieties of fruits and vegetables, and to use appropriate production and harvesting techniques, our government will provide a comprehensive package with participation of state governments INDIA FIN MIN SAY INDIA ECLGS SCHEME TO ...

INDIAN MARKET WILL CORRECT OR CRASH

INDIAN MARKET WILL CORRECT OR CRASH    By Andrews Joseph 21ST NOVEMBER 2021 1.Nifty has made a top of 18,604 on 19th October 2021 and made intraday fall of more than 200 points on the same day, post that gradually made a correction of 4.67% around 840 points till 18th November. And ende at 17764 on 18th November  2. I have already updated on my telegram channel on 22nd October 2021 that we may see correction. Search the below link and join the telegram channel  https://t.me/AMFTraderz 3. The fall led by reliance and other banking sector., and a disastrous opening by largest opening by paytm which has fallen 25% on first and it is likely to be continued.   4.Midcap and small cap stocks has continued to decline . 5. World indices American markets such as S&P 500 , Nasdaq and Dow all were trading in ALL TIME HIGH  after minor correction during the month of August September. Will see a  trouble if their is any delay in debt ceiling ...