-- Posted Tuesday, 10 September 2013 | | Disqus
I think market obsession with Syria is wrong as it is too small a nation. Russia, the closest friend of Syria is showing trends of being a foe. Iran cannot do anything to help Syria. Induced regime change in Syria will meet the same fate as Egypt or Libya which are in a state of deep turmoil. The USA or Russia, both are in Syria for their vested interest. These nations interested for the benefit of the people of the nations where they have induced a regime change. We have examples Afghanistan, Iraq, Egypt or a Libya. These nations are in a state of constant turmoil and only for the masses to suffer. Might is right is what they follow. The end result is that there will be a global demographic change which will be a snail pace and will ensure that other nations do not interfere with them. With every regime change the power of Europe and USA combined will only be reduced. Gold demand will rise in nations where regime change is induced as the value of the paper currencies is zero.
Officially the US summer vacation has come to an end. Trading volumes in commodities and foreign exchange markets will return to normal as the week progresses. There is no major US economic data release before Thursday. Gold, silver, copper and crude oil could consolidate in a narrow range till then with big moves dependent on the Middle East. Investors are sitting on the fence and will remain on the fence for another ten days (till Federal Reserve meeting outcome and clarity on the kind of armed attack on Syria).
Remain on the sidelines. We will soon be starting a series on financial planning for Indians exclusively for www.goldseek.com. Indian gold demand will rise as the week progresses. In less than a month the festive season will come. Those Indians who were unable to invest in gold in April and May of this year will use every dip in gold prices to invest. However I believe that Indian equity market valuations are looking very attractive for a period of three years. I will prefer to invest in selected Indian equities for the long term over gold at the moment.
COMEX TECHNICAL VIEW
NYMEX CRUDE OIL (1ST CONTRACT) - current price $108.60
Bullish over $108.80 with $111.60 and $115.20 as price target
Bearish below $107.60 with $106.32 and $104.80 as price target
Break point: $108.60
- Failure to break $116 in the next four weeks will result in a fall to $102 and $96.60 and then a rise to $125
- Key intraday support is at $108.60
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 Tuesday, 10 September 2013 | Digg This Article
| Source: GoldSeek.com
