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Mumbai, Jan 30 (www.GoldTradingCalls.com) India’s wholesale gold demand abated on as traders eyed a further fall in prices, while a stronger rupee aided sentiment.
International spot gold prices was trading at $1,092.30/1,093.00 an ounce .
Our Inhouse Quant model on Gold Trading calls in BLUELINE Superimposed on price chart clearly shows that Gold has made a lower top on Jan 11 and should continue its downward bias for most part of the year. We advise investors to be wary of being on the long side of the trade.
This is the first instance where in we have given a long term QUANT forecast as a new year GIFT to our valued readers spanning a couple of months ahead the directional move of Gold price in advance.
We are Bearish on GOLD prices for MOST PART OF 2010. Do keep checking our blog for an updated Gold price trend forecast for 2010.
”Preservation of Capital is more important than return on Money” This should be an important theme for 2010 across asset class.
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