According to analysts, Gold price prediction (COMEX) for Monday,19th April 2021 is in a trading range of $ 1734 (Rs 41,560) to $ 1801 (Rs 43,166). Gold price prediction (MCX - June) in India for Monday (19th April) is in a trading range Rs 46,489 to Rs 47,575
Average Gold price prediction (COMEX) for the year end 2021 on the basis of the last 10 forecasts is $ 1983 (Rs 47,646). 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: 18th April, 2021, Price Update
Current Gold Prices: International COMEX Gold closed 0.59% higher at $ 1777 on Friday, 16th of April 2021 (Rs 42,591 per 10 gms). Gold is trading the highest in nearly 2 months. Falling Bond Yields drive Gold prices up.
In India, MCX June Gold closed 0.37% higher at Rs 47,350 on Friday. MCX Gold could hit Rs 49,000 in the next 3 months according to Mint analysis.
Gold Price in Mumbai (Retail) closed 0.10% lower at Rs 48,890 on Saturday.
|
9th Apr 2021 |
16th April 2021 |
Weekly Change |
$ 1744.8 |
$ 1777 |
+1.85% |
|
Rs 46,593 |
Rs 47,350 |
+1.62% |
|
Rs 47,910 |
Rs 48,690 |
+1.63% |
Will Gold Price decrease in the coming Days? 19th April 2021
According to analysts, the current short term momentum for Gold is Bullish. Bullish to Bearish/ Neutral forecasts are in the ratio of 3:2
अगर आप इसे हिंदी में पढ़ना चाहते हैं, तो यहां क्लिक करें
Gold Price Prediction Today: Bullish News
Daily FX: Gold could get a short term bounce from here
Khaleej Times: Time to buy Gold
Mint: More Gains seen in MCX Gold
Gold Price Prediction Today: Bearish/ Neutral News
Investing.com: Not enough evidence rebound will beat key resistance levels
FX Empire: Gold's current move not a game changer
Gold Price Prediction: Technicals for 16th April 2021
|
Support |
Resistance |
---|---|---|
$ 1753 |
$ 1855 |
|
$ 1729 (S3) |
$ 1786 (R1) |
|
$ 1734 (S3) |
$ 1786 (R1) |
|
$ 1720 (S3) |
$ 1776 (R1) |
|
Rs 46,489 (S3). |
Rs 47,575 (R1) |
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Gold Price Predictions: What is pushing up or pulling down Gold Prices?
1. Dollar Index, Bond Yields and other economic factors
The Dollar Index closed 0.17% lower at 91.54 on Friday,16th April. Consumer prices rose faster than expected. This pushed the Dollar Index lower.
|
9th April 2021 |
16th April 2021 |
Weekly Change |
92.16 |
91.54 |
-0.42% |
|
1.666% |
1.59% |
-5.4% |
2. Gold Demand:
2 of the top 3 Jewellery companies in India closed higher on Friday in line with NIFTY. India's Gold Imports are up 23% in the last 12 months
On the ETF Side, GLD ETF closed higher on Friday.
China has apparently given permission to banks to import Gold
Stock |
Change on 16th Apr |
Change over Week |
+0.42% |
-2.95% |
|
+0.15% |
-3.19% |
|
-2.07% |
-4.03% |
|
+0.6% |
+1.89% |
3. Gold Production
Global Gold Production is expected to increase by 5.5% this year,
5 of the 5 large Gold mining stocks closed much higher on Friday. Gold miners are showing signs of a break out
Stock |
Change on 16th Apr |
Change in a Week |
+2.79% |
-0.90% |
|
+0.97% |
+6.34% |
|
+1.09%, |
+4.81% |
|
+0.67% |
+1.1% |
|
+3.24% |
+3.82% |
Latest Gold Price Chart from MCX
On the MCX, Gold closed 0.37% higher on Friday. Gold is now trading the highest since early February
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 |
Axis Securities | $ 2000 | Apr 10th |
Saxo Bank | $ 2000 | Apr 9th |
Wells Fargo | $ 2200 | Mar 29th |
$ 1850 |
Mar 23rd |
|
$ 1732 |
Mar 22nd |
|
$ 2100 |
Feb 25th |
|
$ 2000 |
Feb 24th |
|
$ 1950 |
Feb 23rd |
|
$ 2000 |
Feb 22nd |
|
$ 2000 |
Feb 16th |
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 |
Rs 65,000 |
Dec 31st, 2020 |
|
Rs 60,000 |
Dec 27th, 2020 |
Gold Price in India: Gold Rate in Various Cities in India
City |
Price on 9th April |
Price on 16th April |
Rs 47,910 (Highest)* |
Rs 48,690 (Highest) |
|
Rs 47,780 |
Rs 48,570 |
|
Rs 47,830 |
Rs 48,525 |
|
Rs 47,730 (Lowest) |
Rs 48,495 (Lowest) |
|
Rs 47,730 |
Rs 48,530 |
|
Rs 47,820 |
Rs 48,550 |
|
Rs 47,785 |
Rs 48,485 |
|
Rs 47,860 |
Rs 48,560 |
|
Rs 47,865 |
Rs 48,565 |
*highest/lowest in the 9 cities on that day
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Gold Price Prediction India: Long Term Views
Positive
Business Standard: Increase allocation for Gold
FX Empire: Gold could go to $ 2000
Nuggets that are indicating a rebound in Gold
A new analysis using credit spreads suggests that economic confidence is at its peak now. An increase in spread will predict Gold's next move higher
Kitco: Gold to skyrocket in 6 months
ANZ Bank: Rise in input commodity and container prices will push inflation higher in second half helping Gold
Negative/ Neutral
Daily FX: Q2 Gold Forecast, IG Trading outlook for Q2
Russell Clark Investment: Bearish on Gold due to price vs price of Food and Liquidity
CPM Group: Subdued Gold Market in 2021
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.