Review:Commodity and Bullion Gold price Prediction for August 20

Summary: All 7 but one strategies were profitable while none was lossmaking ( one was neither loss making nor profitable)

 

Commodity and Bullion Gold price Prediction for August 20

 

1. Crude Oil ( MCX): After initial rise possibly peaking in after noon oil futures likely to give up gains ( 10 am -5 pm). Buy futures in morning and short in afternoon or on initial good rise. ( oil reflects both price and dollar fluctuations)

 see chart 1. Though there was no peak hence no profit or loss ( although spot prices rose), shorting would have been immensely profitable  as seen in chart ( in line with NCDEX/MCX timing gold and oil chart is read between these times only)

 

2. Gold: Buy gold futures in morning ( MCX) which may peak in afternoon. Gold spot prices are indicated to fall in afternoon ( 10 am -5 pm) (gold futures on MCX and NCDEX reflect both gold post price and currency fluctuations hence futures may differ from spot prices quoted on kitco.com in $ terms )

see chart 2 and 3(spot price) gold price after peaking fel sharply in afternoon hence both stratgies profitable

3. Potato: short potato futures ( NCDEX) as it is expected to fall except for a short rise in afternoon when it canbe shorted again.

chart 4. shorting on both occasion - in morning and again in afternon during spike were profitable

4. Turmeric: short turmeric futures if it opens with good gains in morning (NCDEX). exit shorts by afternoon( there is more risk in this predction today)
 

Shorting on good gains in moring was profitable though profits would have been maimized by holding shorts till afternoon.chart 5