Indians have a fancy for the gold but the question is that shall we get into the habit of hoarding the gold even in year 2014 as we have been doing the same for past so many years. If you are a daily commodity trader; do not forget to check daily gold tips here and if you are an intraday equity trader; then remember to check the hot stock of the day.
As per policy of the govt; the price differential has occurred between the Indian price of the gold and actual international price of the gold in the international arena. This is the reason that gold smuggling is increasing and probably this is the reason that we are now finding gold bars hidden in the aeroplane toilets. So, Archaeological survey of India instead of running after information obtained on the basis of the dreams should go and check the toilets of aeroplanes and toilets at airports.
Notwithstanding that you can keep on buying gold for your lady love; as it serves the twin objective of keeping your better half happy and also increasing your investment in the gold. So far so good on the lighter side and now we will analyse the purchase of gold from technical perspective.
As per our analysis we feel that one should reduce the exposure in gold as it is breaking the key supports in the international market and these key supports existed at $1550 per ounce and if the key support at $1200 per ounce is broken then sooner or later we may see gold touching the levels of $1000 per ounce. However if gold rises above $1320 per ounce a pull back will be seen and an upmove will be seen above 1550 mark.
Have a look at gold chart in past 5 years and one will realise that half of the upmove has been retraced in past 2 years.
As a matter of fact if one want to invest in gold then one should look for gold rates in dollar rather than the Indian Rupee as the rate disparity exists due to Indian govt policies of tightening the import norms and levying hefty duty on the imports in order to control the CAD has tightened the import norms for gold and thus we may see increase in prices in gold near festival like Akshaya Tritiya or marriage seasons.
What should I do as I have marriage of my daughter scheduled?
If marriage of your daughter is on your mind; then consider accumulating gold in a staggered manner during the whole year rather than buying the gold in bulk on a single day when you may find that rate is very high due to marriage season. Indian economics is simple as during the marriage season demand increases and supply reduces which leads to escalation of the prices.
Last but not least; it takes a lot of time to perform the technical analysis and write the content which is of the use for the investors and traders alike and thus will request you to please share the same through your favourite social bookmarking tool and let the good word spread as sharing is caring. This post is written on 02 Dec 2013. This post will be valid for full year 2014 and we will review it next year if required.
As per policy of the govt; the price differential has occurred between the Indian price of the gold and actual international price of the gold in the international arena. This is the reason that gold smuggling is increasing and probably this is the reason that we are now finding gold bars hidden in the aeroplane toilets. So, Archaeological survey of India instead of running after information obtained on the basis of the dreams should go and check the toilets of aeroplanes and toilets at airports.
Notwithstanding that you can keep on buying gold for your lady love; as it serves the twin objective of keeping your better half happy and also increasing your investment in the gold. So far so good on the lighter side and now we will analyse the purchase of gold from technical perspective.
As per our analysis we feel that one should reduce the exposure in gold as it is breaking the key supports in the international market and these key supports existed at $1550 per ounce and if the key support at $1200 per ounce is broken then sooner or later we may see gold touching the levels of $1000 per ounce. However if gold rises above $1320 per ounce a pull back will be seen and an upmove will be seen above 1550 mark.
What should I do as I have marriage of my daughter scheduled?
If marriage of your daughter is on your mind; then consider accumulating gold in a staggered manner during the whole year rather than buying the gold in bulk on a single day when you may find that rate is very high due to marriage season. Indian economics is simple as during the marriage season demand increases and supply reduces which leads to escalation of the prices.
Last but not least; it takes a lot of time to perform the technical analysis and write the content which is of the use for the investors and traders alike and thus will request you to please share the same through your favourite social bookmarking tool and let the good word spread as sharing is caring. This post is written on 02 Dec 2013. This post will be valid for full year 2014 and we will review it next year if required.
