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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, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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3 Comments

  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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