iCharts Discussions

[shashangan]

That's right Vinst.

The gap will start getting narrow with time. The proof is in 2001 Gold's low was 254 $ & Silver Low was around 4 $.

Gold made a high around 1920 which is 7.5 times higher from low.
Silver made a high of almost 50$ which 12.5 times higher from Low.

So Silver on long run will keep marginally moving higher percentage wise every year & since it's a natural resource with resource depleting the percentage of increase will pick up pace.

Meaning after 5 years Silver will start moving more than double in terms of percentage appreciation. Eg If Gold appreciates 10% Silver may appreciate 20-25%. Once Silver crosses 100$ it will massively pick up pace & out perform Gold in 2-3 decades. Also when Gold starts getting over, all the International Banks & countries will abandon Gold & Gold will only be with Indians with nobody wanting it. So Gold will start losing its glitter & safe haven status & it will be of no use metal than making ornaments for Indians.

On the flip side there is another possibility if somebody finds some important use for Gold some major necessity need, India will become a non conquerable country & the untouchable superpower of the world.

That's what I feel. Let's see.


Eg: Invention of the importance of Uranium (Uranium was used for very small things before this invention)

A team led by Enrico Fermi in 1934 observed that bombarding uranium with neutrons produces the emission of beta rays (electrons or positrons from the elements produced; see beta particle). The fission products were at first mistaken for new elements of atomic numbers 93 and 94, which the Dean of the Faculty of Rome, Orso Mario Corbino, christened ausonium and hesperium, respectively. The experiments leading to the discovery of uranium's ability to fission (break apart) into lighter elements and release binding energy were conducted by Otto Hahn and Fritz Strassmann in Hahn's laboratory in Berlin. Lise Meitner and her nephew, physicist Otto Robert Frisch, published the physical explanation in February 1939 and named the process "nuclear fission". Soon after, Fermi hypothesized that the fission of uranium might release enough neutrons to sustain a fission reaction. Confirmation of this hypothesis came in 1939, and later work found that on average about 2.5 neutrons are released by each fission of the rare uranium isotope uranium-235. Further work found that the far more common uranium-238 isotope can be transmuted into plutonium, which, like uranium-235, is also fissionable by thermal neutrons. These discoveries led numerous countries to begin working on the development of nuclear weapons and nuclear power.
Bombs
White fragmentred mushrom-like smoke cloud evolving from the ground.
The mushroom cloud over Hiroshima after the dropping of the uranium-based atomic bomb nicknamed 'Little Boy'

Two major types of atomic bombs were developed by the United States during World War II: a uranium-based device (codenamed "Little Boy") whose fissile material was highly enriched uranium, and a plutonium-based device (see Trinity test and "Fat Man") whose plutonium was derived from uranium-238. The uranium-based Little Boy device became the first nuclear weapon used in war when it was detonated over the Japanese city of Hiroshima on 6 August 1945. Exploding with a yield equivalent to 12,500 tonnes of TNT, the blast and thermal wave of the bomb destroyed nearly 50,000 buildings and killed approximately 75,000 people (see Atomic bombings of Hiroshima and Nagasaki). Initially it was believed that uranium was relatively rare, and that nuclear proliferation could be avoided by simply buying up all known uranium stocks, but within a decade large deposits of it were discovered in many places around the world.

Regards,
Gautham Shashangan

[shashangan]

If I am not wrong, Spot Gold may see resistance anywhere between $ 1402 - 1409. Selling could resume for 1314 -07 target by Thursday.

Mkt looks definitely bearish to me, I dont see any risk until mkt goes above 1455.

Spot Silver 24.03 - 24.23 area could be area selling should come in for 21.76 - 21.70 target.

Good luck
Gautham Shashangan

[chrome]

off trend..but my way contrary...we still may not see 22k gold on mcx soon......

just a view keep minting

rgds

[chetan83]

[shashangan]

I think we will see around 20k on mcx soon. It's my view.

Thanks
Gautham Shashangan

[mohitshukla2021]

Globally, a lot of Hedge funds are holding a lot of Gold....that may triger another round of liquidation....people r generally not rational when it comes to investing ....big movements on either side are often driven by greed or fear.....for now fear is ruling in commodity market

[veerappan]

today gold 1289$ will they do in $ terms... silver 20.59$ then enough to create the panic towards 926$ on magic figure...and silver 16$ enough red...

veeru
chennai boy...

[shashangan]

Veeru For now mkt is consolidating. It may hold the low till Noon. Around 1315 is possible. Intra day & small time shorts need to be watchful from 1329 levels.

I am not sure of 1289 today, It may come & like you said it can also trigger the panic button, to probably take it further down.

But overall I don't rule out 1178 - 65 $ target which most probably looks like with in next month to me.

Regards,
Gautham Shashangan

[shashangan]

There is a possibility spot 1441-42 high could be max high for this move. Selling can start any time through to this week end.

You can start selling 1433 $ & above spot for minimum 1360-58 with in a week according to me.

Need to be careful above 1455.

I could be wrong.

Thanks
Gautham Shashangan

[shashangan]

[mohitshukla2021]

Hi shashangan,

on expected lines, looks like Gold has reversed for downward journey..

Wht is your expectations on this move !!

[shashangan]

That's right Mohit. Patience pays.

Min target by tomorrow is 1424-22 $ followed by 1416. Should get minimum 1389-87 region by next Wednesday.

Hopefully before June end 1176 $.

Good luck
Gautham Shashangan

[shashangan]

Since I had mentioned a move above 1455 will slow down the bearishness in my older chart. So the bear trend is delayed. Like I have been bearish I am still a bear.

Also it has tried breaking the upper sloping trend line, but it failed. It could only take out a few short term stops.

Longs need to be careful on a break of 1441, there can be a intra day stops below 1441 & 40 $ spot. A sharp move through it can immediately show 1436 followed by 1418 $ & also bringing the old bear trend in play.

It's also made a double top formation. Play minimum, play with patience you will win.

Good luck
Gautham Shashangan

[shashangan]

Though it did do lot of drama, but eventually the target projected is achieved. As I mentioned the trend is down. Well for now the mkt is still looking short term bear, but again there could possibly be a pull back next week. Shall update if I get any signals. I am still overall bearish.

Thanks
Gautham Shashangan

Call given on Apr 24

[tuks87]

Sir ...any views on gold this week???..it has reached spot 1420$ level.can we go short