Gold and silver outlook: Long-term horizon advised after big rally
After a strong rally in gold and silver, ICICI Direct's Pankaj Pandey advises investors to adopt a long-term perspective and not chase short-term gains.
Gold Market
After a strong rally in gold and silver, ICICI Direct's Pankaj Pandey advises investors to adopt a long-term perspective and not chase short-term gains.
Gold snapped a five-week winning streak, falling 3.4% as Fed comments on inflation and possible tightening spooked markets. Despite the drop, gold remains up 30% year-over-year.
A guide to reading CFTC positioning data for gold futures, explaining the three trader categories and how changes in their net positions can signal shifts in market sentiment.
A Taurex study covering 2020 to August 2026 shows Google as the best-performing asset (+291%), while Bitcoin fell 30%. Gold, Apple, Microsoft and BAE Systems each delivered gains of more than 100%.
An analyst suggests gold could reach the $4800-$5000 resistance zone, but a short-term pullback of 5-7% is possible. Silver and the GDX ETF may fall 10-20%.
Gold's weekly parabolic Short trend ended after 21 weeks, confirmed at 4432. Historical median gains point to a potential target of 4959 over 15 weeks, though risks remain.