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Gold Price Predictions for 2022

free mcx gold daily chart tips

In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 (+444). A question is, is it moving upward?

To identify uptrend:

There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line.

According to the above chart, Gold is forming a bullish flag pattern. And we’re waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 – 60000.

Gold downtrend confirmation:

But if gold breaks the support trendline (invalidation), then a downtrend may start. And if it happens, I will update you asap.

At present, intraday traders can keep buying for targets of 51500 – 51800+ levels.

Watch significant releases or events that may affect the movement of gold, silver, and crude oil.

Monday, May 09, 2022
04:30 FOMC Member Bostic Speaks – Medium Impact
11:00 Investing.com Gold Index – Medium Impact
18:15 FOMC Member Bostic Speaks – Medium Impact

Tuesday, May 10, 2022
17:10 FOMC Member Williams Speaks – Medium Impact
18:00 FOMC Member Bostic Speaks – Medium Impact
21:30 EIA Short-Term Energy Outlook – High Impact

Wednesday, May 11, 2022
00:30 FOMC Member Mester Speaks – Medium Impact
02:00 API Weekly Crude Oil Stock – Medium Impact
04:30 FOMC Member Bostic Speaks – Medium Impact
18:00 Core CPI (MoM) (Apr) – Medium Impact
20:00 Crude Oil Inventories – High Impact
22:31 10-Year Note Auction – Low Impact
23:30 Federal Budget Balance (Apr) – Low Impact

Thursday, May 12, 2022
10:30 Natural Gas Storage – Low Impact
13:30 IEA Monthly Report – Medium Impact

Friday, May 13, 2022
08:30 Import/Export Price Index (MoM) – Low Impact
11:00 FOMC Member Kashkari – Medium Impact
12:00 FOMC Member Mester Speaks – Medium Impact
13:00 U.S. Baker Hughes Oil Rig Count – Medium Impact

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Mr.Dev(s) is a team of non-biased certified technical and research analysts with extensive experience in the financial markets dating back to 1997. They accurately forecast market movements and position their clients accordingly. They are popular online contributors on many channels and platforms, known for their non-biased advice and commitment to helping investors make informed decisions. The team is also the founder of forex account management services on Moneymunch.com, demonstrating their knowledge and experience in the financial world. Investors can rely on Mr.Dev(s) for research reports and opinions, as well as trading guidance.

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  1. Sir gold girne vala he. Lagbhag 7000 Points ka fall within 4 months me dekhne vale he Aisa mera view he.

  2. Please share silver & Crude’s research report. Your Researches are up to mark.

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