iCharts Discussions

[shashangan]

Golden moments. Hope nobody is trapped. Impossible.

Anyway goodluck
Gautham Shashangan

[krishnanpanju]

ShaS........ just started ... 1482$ .... 800$ COMes will enjoy more.... dirty games going on ...bulls? they will loose their last pant and shirt also ....just wait... now protect the money with stop loss theory .... what u say ?

[shashangan]

Yes Krishnan, It has to come down. I am confident it will come down. But for now 800$ is too far. It also will be seen with time, but we will go one step at a time. Let it achieve 1170$ target.

Keeping Gold has lot of costs. Gold is held in huge quantities by Fund houses, Investors & Banks.

The cost of storage & safeguarding it is too high. 12 years it has gone up. It's common sense it cant keep going higher continuously. There is too much of risk of holding physical Gold. Silver has some industrial value, but Gold has no Industrial value or use except for Investment. I have been telling people Gold is not a necessity, a person can do without it. It's more peaceful for an investor & less cost to safeguard it if they convert the money & put it in bank & appreciation is confirmed, though small. The risk for your money is only if the bank collapses. You can diversify your money into various banks to counter that risk too.

If you say crude will go up continuously it makes sense, because it's a necessity. A common man or a economy cannot do without it, at least till the time they find something else which can start substituting Crude.

This is the concept I have been trying to explain people & almost everyone including many of my family members laugh at me & say I am crazy to think Gold will go below 50%.

There are lot of other factors which I had analyzed for justifying Gold to drop, it's too long to explain here.

Well time will tell. Anyway for now Sell on highs should be the strategy.

Thanks
Gautham Shashangan

[apka]

in terms of INR value, how low do you think it will touch?

[shashangan]

Apka,

Both Gold & Rupee fluctuation is difficult to predict for a certain future date.

But approximately I can show with a simple calculation.

Check the chart. 1 ounce is 81288.75 Rs @ 1488.23 $

It's actually called Troy ounce. 1 Troy ounce is 31.104 gms approx if my memory is right.

81288 / 1488 = 54 times So when Gold in $ terms tests 1170 it will be approx 1170 x 54 = 63915 Rs

63915 / 31.104 = 2050 Rs per gram approx @ 1170 $.

If Gold tests 980 $ then 980 x 54 = 52920 Rs per Troy Ounce

52920 / 31.104 = 1700 Rs Per gram approx.

So around 775$ Gold might be around 1350 Rs per gram I think if the price would come.

This is an easiest way I calculate.

This is not taking Rupee variations in consideration. But I think it must be around these prices at the said $ terms.

I am poor in calculations. Hope it's not confusing. If somebody has a better way to explain kindly do.

Thanks
Gautham Shashangan

[chetan83]

Hi,

Can anyone please post the current rate of NSEL Gold...which is kept as demat.
And why the rate is higher than normal MCX contract?

regards,
Chetan.

[apka]

thanks shashangan for the detailed explaination. that would be a good fall if it happens and I think in a way it would help appreciate rupee value since we are highest importer of gold.

[chetan83]

[apka]

i am not knowing but i found 10 grams delhi gold 28186. And egold as 2999.90 at nse spot exchange.

[chetan83]

[mohitshukla2021]

Hello Shashangan,

Thanks for your views on Gold...I did benefited from the same

Now considering your expert eye on precious metal, do u have any views on Silver...considering it has some industrial value unlike gold which is pure 'mindset' play !!

[krishnanpanju]

shashnk gold silver ... still steam is left upto 800$ on gold...

[shashangan]

It's my pleasure Mohit,

As of now Silver will follow Gold. The trend is bearish for metals

Immediate target could be around 21.70 & 20.30 $. When mkt settles down Silver will climb more than Gold relatively.

Though early overall target could be around 15.20 $.

In 20-25 years Gold & Silver may become same price or Silver may overtake Gold

Thanks
Gautham Shashangan

[shashangan]

Keeping my fingers crossed. Like I said it will come with time.

Thanks
Gautham Shashangan

[vinst]