![GOLD FUNDAMENTAL FORECAST: BULLISH [23-01-2022]](https://www.mcxmoney.com/wp-content/uploads/2021/03/FINE-GOLD.jpg)
Gold Uptrend scenario
Gold Forecast : An uptrend will start as soon, as the market rises above resistance level $1759, which will be followed by moving up to resistance level $1815.
And
Gold Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level $1759, which will be followed by reaching support level $1684 – $1671.
Gold Forecast & Fundamental Analysis
Conditions in currency and interest rates sectors showing fair price on the level $1680 – $1750.
Monthly Forecast, March 2021
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level $1790, which will be followed by moving up to resistance level $1878 – $1895.
And
Gold Downtrend scenario
An downtrend will start as soon, as the market drops below support level $1753, which will be followed by moving down to support level $1684.
Gold prices on Monday rose by Rs 241 to Rs 45,520 per 10 grams in the national capital in line with the strong global bullion market trend, according to HDFC Securities. It gained after the lower house of the US parliament passed a massive stimulus package, which will likely lead to more inflation.
The precious metal had closed at Rs 45,279 per 10 grams in the previous trading session.
Silver also jumped by Rs 781 to Rs 68,877 per kg, compared with the previous close of 68,096 per kg.
Senior Analyst (Commodities) said, “Spot prices for 24 karat gold in Delhi rose by Rs 241, in line with the recovery in global gold prices while rupee appreciation capped upside.