Gold Price Forecast / Prediction 10th Feb 2016
Gold prices have surged in the past few trading days thanks to the Mars in Scorpio effect (which is our historical studies has a very high co relation for Gold prices to move higher, to add to that bullish signatures Mercury-Venus-Jupiter cycles were also supporting Gold prices but what these signatures do is that they make a power top formation around the end of the cycle) As our studies of both these cycles we see Gold is almost at the top both in dollar terms but much more in rupee terms so keep in mind that the time cycle and astro cycles combined are indicating a top for Gold around these prices and it will be a good trade to short sell Gold on rally from now on, not that we are expecting any significant further rally from here. We were expecting a top of 27500 but it has almost gone 1000 Rs higher than our estimated price and thanks to that we have got a great selling opportunity in Gold.
On the downside we see Gold price retesting the lower side area of 25000 and then once below 25000 Rs we will review and then update our fresh view in Gold. At this juncture Gold price chart is indicating a very similar move to that of Nifty Futures the only difference is that Nifty we do not see it sustaining below 7300 Spot Nifty and similarly Gold price we do not see it sustaining above 27500 for long and in the days to come especialy around 1st week of March 2016 we could expect a sharp sell off in Gold prices both in INR terms and in dollar terms. So those traders and investors who love Gold as a asset class please be careful as Gold price charts are showing classic patterns of a short to medium term top being formed and once that top is in place we expect there could be sharp fall in Gold prices internationally.
Good Trading To You!