10 Gold Price Predictions in Rupees (Updated) | Gold Rate Prediction 2021

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10 Gold Price Predictions in Rupees (Updated) | Gold Rate Prediction 2021

04 Aug 2021
10 Gold Price Predictions in Rupees (Updated) | Gold Rate Prediction 2021
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According to analysts, Gold price prediction (COMEX) for Wednesday, 4th August 2021 is in a trading range of $ 1806 (Rs 43,110) to $ 1821 (Rs 43,468). Gold price prediction (MCX - Oct) in India for Wednesday, 4th August is in a trading range Rs 47,644 and Rs 47,934
Average Gold price prediction (COMEX) for the year end 2021 on the basis of the last 10 forecasts is $ 1961 (Rs 46,012). In a separate poll, the median forecast for Gold in 2021 was $ 1784 (Rs 42,778). Gold price prediction (MCX) in India for 2021 on the basis of the last 5 forecasts is Rs 60,300. 

Please note Gold Prices in India are reported on a per 10 gm basis for 24 carat Gold.


Gold Price Prediction India: 4th Aug, 2021, Price Update


Current Gold Prices: International COMEX Gold was trading 0.04% lower at $ 1813.3 on Wednesday, 4th of Aug 2021 (Rs 43,285 per 10 gms)

In India, MCX Oct Gold closed 0.48% lower at Rs 47,856 on Tuesday, 3rd of Aug

Gold price in Mumbai (Retail) closed 0.08% higher at 49,610 on Tuesday, 3rd of Aug

 

28th July

4th Aug

Weekly Change

Gold Price COMEX

$ 1799.7

$ 1813.3

+0.76%

Gold Price MCX

Rs 47,714

Rs 47,856

+0.3%

Gold Price in Mumbai (Retail)

Rs 49,370

Rs 49,610

+0.49%


Will Gold Price decrease in the coming days? 4th August 2021

According to analysts, the current short term momentum for Gold is neutral. Bullish to Bearish/ Neutral forecasts are in the ratio of 1:3


अगर आप इसे हिंदी में पढ़ना चाहते हैं, तो यहां क्लिक करें


Gold Price Prediction: Technicals for 4th August 2021

 

Support

Resistance

FXEmpire

$ 1808

$ 1834

FXStreet

$ 1799 (S3) 

$ 1815 (R1)

Investing.com

$ 1811 (S3) 

$ 1814 (R1)

in.Investing.com

Rs 47,644

Rs 47,934

Positive Forecasts

[2nd Aug] Gold looks set to rally, Jim Cramer

Negative/ Neutral Forecasts

[4th Aug] Gold Price Forecast: Stuck in familiar ranges, bears seek break of $1,790, bulls $1,834

[4th Aug] Gold Price Outlook: Gold August Battle Lines Drawn- XAU/USD Levels

[3rd Aug] Gold price underwhelms as the precious metal awaits non-farm payroll figures

[3rd Aug] Prices could remain subdued at current level

[3rd Aug] Gold Prices Move Back To The Downside


Gold Price Predictions: What is pushing up or pulling down Gold Prices?

1. Dollar Index, Bond Yields and other economic factors

The Dollar Index was trading 0.02% lower at 92.03 on Tuesday, 3rd Aug.

 

26th July 2021

3rd Aug 2021

Weekly Change

Dollar Index

92.65

92.03

-0.70%

US 10-Yr

1.276%

1.18%

-7.5%

2. Gold Demand: 

2 out of the top 3 Jewellery companies in India closed lower on Monday (2nd Aug) even as the NIFTY closed higher. 

On the ETF Side, GLD ETF closed lower on Monday (2nd Aug).

Stock

Change on 2nd Aug

Change in 5 days

Titan Company

+3.58%

+2.29%

Rajesh Exports

-0.96%

+3.38%

Vaibhav Global

-1.78%

+3.41%

GLD (NYSE)-ETF

-0.12%

+0.54%

3. Gold Production

4 of the 5 large Gold mining stocks closed lower on Monday, 2nd Aug.

Stock

Change on 2nd Aug

Change in 5 days

AngloGold Ashanti

-0.67%

+1.53%

Newmont Corporation

-1.34%

+2.67%

Barrick Gold Corporation

-0.92%

+3.4%

Kinross Gold

-0.91%

+5.35%

Newcrest

+2.9%

+4.63 %


Latest Gold Price Chart from MCX

MCX October Gold closed 0.48% lower on Tuesday, 3rd of Aug


Gold Price Prediction: 10 Gold Price Predictions and Forecasts (International)

Gold Prices are reported on a per 10 gm basis for 24 carat Gold. 

Institution

Target Price for 2021

Date Given

Fitch $ 1780 June 9th
Axis Securities $ 2000 Apr 10th
Saxo Bank $ 2000 Apr 9th
Wells Fargo $ 2200 Mar 29th
Invesco $ 1850 Mar 23rd
RBC $ 1732 Mar 22nd
ANZ Bank $ 2100 Feb 25th
Goldman Sachs $ 2000 Feb 24th
Citibank $ 1950 Feb 23rd
CommerzBank $ 2000 Feb 22nd

Gold Price Prediction India: 5 Gold Price Predictions and Forecasts (India)

Institution

Target Price for 2021

Date Given

Anand Rathi Rs 50,000 Apr 6th, 2021
Ranka Jewellers Rs 63,000  Jan 9th, 2021
Tradebulls Securities Rs 62,000 to 65,000 Dec 31st, 2020
Religare Broking Rs 65,000 Dec 31st, 2020
Commtrends Risk Rs 60,000 Dec 27th, 2020

Gold Price in India: Gold Rate in Various Cities in India

City

Price on 26th July

Price on 2nd Aug

Mumbai Rs 49,430* (Highest) Rs 49,595 (Highest)
Ahmedabad Rs 49,325 Rs 49,480
Delhi Rs 49,365 Rs 49,490
Jaipur Rs 49,275( Lowest) Rs 49,430 (Lowest)
Kolkata Rs 49,450 Rs 49,475
Bangalore Rs 49,380 Rs 49,500
Hyderabad Rs 49,395 Rs 49,500
Chennai Rs 49,430 Rs 49,560
Kochi Rs 49,435 Rs 49,565

*highest/lowest in the 9 cities on that day


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Gold Price Prediction India: Long Term Views

Positive

  1. Gold above $3,000 an ounce? This investor thinks so

  2. Gold has had a tough year, but things could turn around in the second half, market analyst says

  3. Long-term outlook bullish on gold; silver prices to remain under pressure: Nirmal Bang Commodities

  4. CNBC TV18: Why Digital Gold should be a part of portfolio

  5. Axis Securities: Gold continues to be a preferred asset class for 2021

  6. TheHindu: Medium term outlook positive for Gold

  7. Incrementum: 45% chance Gold could hit all time high this year

Negative/ Neutral

  1. OCBC: Gold headed to $ 1500 by end of 2022

  2. Russell Clark Investment: Bearish on Gold due to price vs price of Food and Liquidity

  3. Baystreet: Gold could reverse course in second half


Read this thorough analysis about the relationship between Fed balance sheet and Gold Prices. Read this on what explains movement of Gold prices

Watch this space for more updates on Gold Price Forecast.


Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends on Investments in Gold. Please consult a registered advisor to guide you on your financial decisions.


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