Page 17 - Bullion World Volume 3 Issue 1 2023

Bullion World | Volume 3 | Issue 1 | January 2023

Gold Technical Chart the industrial metals. Looking and
considering the factors are positive
for the yellow metals.

Technically the trend of gold and
silver are positive. Both metals are
following higher top higher bottom
formations coupled with bullish
candlestick patterns. Prices are
trading at 10 and 20 years EMA
(exponential moving average).
MACD and RSI both are indicating
positive momentum. Based on the
chart structures and indicators
indication we are expecting that gold
and silver may rise in the year 2023.
Gold may test INR 58000 to INR
Silver Technical Chart 60,000 levels and silver may test INR
78000 to INR 80000 levels.

Price Outlook: 2023

Mr Ganesh Agarwal, MD, Shiv Sahai & Sons Pvt Ltd.

Gold Indian market outlook (INR/ 10 grams): Silver Indian market outlook (INR/ 1 kg):
Low: 52000 Low: 62000
High: 58000 High: 76000
Average: 55000 Average: 68000

Gold International market outlook (USD/ounze) Silver International market outlook (USD/ounze)
Low: 1680 Low: 18.60
High: 1980 High: 26.40
Average: 1840 Average: 21.60

17