april 26 , 2020 was the festival of akshaya tritya in india . it is considered to be an auspicious day to buy gold.
at the same time last year , gold was 3300 per gram , this time it is 4650 per gram. that is almost 40 percent appreciation in the last one year
indian rupee has been weakening against the us dollar as well
in the coming days , due to covid 19 , almost all countries are printing money and putting it in their economies , the currencies will and are losing their value
and the only thing that happens when currencies start losing value is that the real money , gold , starts going up
gold in the international market was 1300 in may 2019 and as of apr 26 2020 , it is around 1700 – that is almost 400 dollars in 1 year.
the dow theory , flag up pattern states that the same appreciation , 400 dollars , will happen in one third the time – that is , we can expect to see gold around 2000 dollars by aug 2020 .
disclaimer : invest at your own risk , the views are personal . trading involves speculation , involving a high risk of loss of capitalAdd to favorites