-- Posted Monday, 8 July 2013 | | Disqus
The sharp rise in June US nonfarm payrolls along with an upward revision in April and June numbers implies that tapering by the Federal Reserve will begin from September. The USA will attract lot of short term hot flows from all across the globe. Bond yields in USA are expected to rise, equity markets will rise, there will be a very sharp increase in service sector hiring for the rest of the year and a continued rise in US consumer sentiment and US business sentiment. All in all, it will now seem that the US economy is back to its glory days witnessed between 1980 and 2000. Gold, silver and other precious metals were in a bear zone between 1980-2000 and they will remain in a bear zone. Emerging markets like India, Brazil will get big inflows only when the US economy shows signs of stabilization.
New uses of silver
With a 3-D printer, a petri dish and some cells from a cow, Princeton University researchers are growing synthetic ears that can receive - and transmit - sound. The scientists send bovine cells mixed in a liquid gel through the printer, followed by tiny particles of silver. The printer is programmed to shape the material into a "bionic ear," and forms the silver particles into a coiled antenna. Like any antenna, this one can pick up radio signals that the ear will interpret as sound. The 3-D ear is not designed to replace a human one, though; the research is meant to explore a new method of combining electronics with biological material.
(More at http://www.stuff.co.nz/science/8878179/Bionic-ear-born-of-silver-and-cow-cells)
TODAY
There are no major US economic data release today. It will be a technical trade which implies that sharp rise in gold and silver should be used to sell.
COMEX TECHNICAL VIEW
COMEX SILVER SETPEMBER 2013 – current price $1878.00
Bullish over $1815 with $1937-$1993 as price target
Bearish below $1775 with $1669-$1630 as price target
Neutral Zone between: $1775-$1815
Break point: $1899.00
- Silver needs to break and trade over $1937 else it will fall to $1815 and $1669
- Only a daily close over $1937 will resume the mildly bullish zone
MCX SILVER SEPTEMBER – prices in Indian rupees below
Silver has a key long term support at 38200 and as long as silver trades over 38200 it will trade in 38200-42500-44500 range. There will be a long term technical break down if silver trades below 38200 any day in US session to 36300-32900.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Manan Somani
Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.
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NOTES TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
APPROPRIATE STOP LOSSES PER LOT IN US DOLLARS ON THE TRADING CALLS GIVEN IN THIS REPORT
COMEX GOLD – $15-$17
COMEX SILVER: $25-$30
COMEX COPPER: $3
NYMEX CRUDE OIL: $0.60
SPOT SILVER: $0.25
SPOT GOLD: $15-$17
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Posted Monday, 8 July 2013 | Digg This Article
| Source: GoldSeek.com
