Gold Price Prediction 8th Feb 2016
Gold price today touched 27500 mark and as per our analysis / Gold Price prediction we do not see any major significant upsides in Gold prices from here on. As per time cycle we see a good resistance for Gold price around Monday to Tuesday 10-12th Feb 2016 so on higher side above 27500 we do not see Gold prices sustaining for long (please note that we are giving our view here and it is not meant for day to day trading. This view is applicable to those people who are holding physical gold ) From 27500 we see Gold prices once again moving below 25000 and once below 25000 we will reconsider what is to be done. From a short term perspective we do not see prices moving much higher from here though minor variations are possible due to Mars in scorpio which has been known to create bullish moves of approximately 10-14 percent. The Indian rupee is also set to appreciate verses the US dollar hence we do not see Gold sustaining at higher levels. (We may suggest short sell Gold to our clients at some stage in the next few days. Those who are trading only on the basis of this post please use appropriate risk management and trade)
Good Trading To You!