US GOLD index has given a breakout from the double top formation on a weekly time frame and has also crossed the MA200. Gold is officially in the bearish zone if it stays below the breakout line.💰
MCXGOLD has also given a bearish breakout from the consolidation zone shared earlier.💰
⚠️According to my analysis, if this fall sustains, then we can see GOLD at the levels of $1270 per ounce by 2025, which translates to $45 per gram, and taking an approximation of an 8% increase in Dollar/INR YOY, by 2025 we can see the levels of Dollar = ₹93 (80*(1+8%)^2), thus per gram price in INR = 45 * 93 = ₹41850.
I see the GOLD price falling to 42000-43000 levels by 2025.

❗This is a purely technical analysis study, and this study can be wrong; please consult your financial advisor before taking any trade. I am not a SEBI registered advisor.
Commodity Central - chart - 12573345