GOLD AT ALL TIME HIGH !!!

 #gold #goldprice has been rocking since a month now & it did make a new all time high now after ~3 years .The yellow metal is considered an asset class where money flows into whenever investors are looking for safer heavens.

 remember gold did hit previous all time high during covid time in 2020. later on  it attempted to break out during ukraine conflict but fizzled out & another attempt interestingly began this time when another global conflict of israel hamas came into picture & this time it did make new high. However technical charts are showing resistance which mean profit booking happening. 

Given the cup/handle & multiple cup/round patterns on weekly charts, a breakout from here eventually could move considerably upside over a period of time. Gold often is used as hedge instrument by market participants against the risks foreseen on equity instruments and therefore whenever stock markets tumble is when we usually a gold spike is expected when money switch across asset class.However this time  when market shot up following inflation cool off in the US , the gold price rise seem to have coincided along with stock market rise. India has been big gold jewellery market & considered safe asset traditionally & there had been various alternate instruments that had become popular recently for investors in gold like the digital gold, gold etfs, sovereign gold bonds, gold funds etc. 

Gold Spike Jan 2023

 #Goldbees seems heading towards 2020 levels with decent 2 months spike. remember when do gold spike normally

GOLD CUP AND HANDLE POSSIBLE BREAKOUT : INVESTMENT WATCHLIST

 

1. GOLD seems to be forming a cup and hand pattern on monthly charts. 
2. Currently resisting at the trendline channel on weekly and a short to medium term breakout can be expected.
3. Keep the charts on your watch out and a right entry could easily be found and on confirmation entry can be made for investment.
4. Wide range of investment and trading options exit for gold like Gold ETF(exchange traded funds),mutual funds, commodity futures, gold bonds like Sovereign Gold funds, gold coins etc.
5. GoldBees for example is liquid enough for short term trading also while long terms benefits from highly safe options like RBI issues bonds are highly. suitable for the long term investment.
6. Gold is a hedge to inflation and therefore is essential part of every investors portfolio in the long term and ideally allocation recommended by experts are half % of once age.