Page 19 - Bullion World Volume 3 Issue 1 2023

Bullion World | Volume 3 | Issue 1 | January 2023

The neckline resistance of Inverse H&S lies at $1820, if prices sustain above it, the
target would be $2000-2020. This means we can see a 10% upside in gold prices. If
USDINR remains constant above 80, domestic prices can touch the level of Rs 60000/
gm in 2023.

Silver Outlook
Silver started the year around $23,
went up to $27 in March and prices Gold: The neckline resistance of
flipped to trade around $18 by end of Inverse H&S lies at $1820, if prices
August and now we are back trading sustain above it, the target would be
above $23 in December. Similarly
in domestic terms, silver prices $2000-2020. This means we can see a
started the year around Rs 62000, 10% upside in gold prices. If USDINR
then touched Rs 73000 in March, remains constant above 80, domestic
fell back to Rs 52000 in August and prices can touch the level of Rs
now prices have rallied back above
Rs 68000 due to rupee depreciation 60000/gm in 2023.
during the year.

The first quarter of 2022 was
positively impacted by geopolitical
tensions between Russia and

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