Easters are going to be over and summers have arrived in Asia and in northern hemisphere.Energy demand will slowly and steadily rise along with rise in temperatures. Global warming is the topic of discussion between environmentalist and politicians. Globally average temperatures are on the rise every year.There is uncertain weather pattern and meteorologist have failed to predict the same accurately. Deserts are receiving more rain, while flooded regions are experiencing drought. How does climate change effect gold and silver? The prices of agri-commodities like wheat, pulses, soybean are on the rise, specially over the past two years. If the prices of food items rise over the next few years at the current pace, most of the central banks will continue to raise interest rates or price controls (as in India) will come up in developed nations to check prices. Gold will be the biggest beneficiary as paper instruments will crumble.
Physical demand for in India as well as other parts of Asia should rise from this week till the middle of June. In India at the moment there is light demand but it should rise as the month progresses. Silver will benefit from rise in demand from use in consumer durables. Copper and other base metals should remain firm, but cautious undertone will persist as it has pushed traders on the sidelines. Market sentiment for the US dollar is negative which should support metals prices at lower levels.
GOLD -- JUNE FUTURE
Gold has broken the key resistance of $677 and could be headed for $692 and $700 as long as $668.80 holds on closing basis. A consolidated fall below $668 will result in $660 and $653.20.
SILVER -- MAYFUTURE
Silver targets $1412 and $1437 as long as $1330 holds on closing basis. A daily close below $1330 will result in $1305 and $1284 respectively.
Happy Profitable Trading
Disclaimer : Any opinions as to the commentary, market information, and future direction of
prices of specific currencies, precious metals, base metals, or equity indices reflect the views
of the individual analyst, In no event shall Insignia Consultants or its employeeshave any liability
for any losses incurred in connection with any decision made, action or inaction taken by any
partyin reliance upon the information provided in this material; or in any delays, inaccuracies,
1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email: chintan@insigniaindia.com
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
OilSeek.com
