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Asian Metals Market Update

By: Manan Somani, Insignia Consultants

 -- Published: Monday, 17 February 2014 | Print  | Disqus 

  • Technically gold, silver, copper and crude oil are all bullish.
  • Monday US markets are closed. Electronic trade is open.

I think the gold bull should thank the snow. Gold would not have risen without the help of some extra snow. Snow has caused chaos in the US but smiles to gold bulls.  Gold can rise to $1354 and $1426 in the short term as long as it trades over $1309. Today US markets are closed but do not sleep. There will be price movements. Short term investment demand will now pick up. There will be more flows into gold ETFs and other gold investment sources. Short positions will either get squared or converted into long positions. I am hopeful that the gold bull run will continue for the rest of the month.

Silver and copper should get support from higher Chinese demand. Chinese markets are now fully open. Gold will fall if and only if economic data releases from the USA suggest that taper will be there in March.


COMEX SILVER MARCH 2014 – current price $2179.00

Bullish over $2114 with $2263 and $2360 as price target

Bearish below $2079 with $2048-$2010 as price target

Neutral Zone between: $2079-$2114

Break point: $2184

  • Silver can rise to $2309 and $2432 this week as long as it trades over $2112
  • Silver will crash if and only if copper and gold both fall.
  • There will be sellers if and only if silver trades below $2112 either in US session or UK session

MCX SILVER MARCH - prices in indian rupee below

Three week view: Silver can rise to 47793 and 50620 in short term as long as it trades over 45700.

60 day view: silver can rise to 52781 and 54599 as long as it trades over 45700. Only a daily close below 45700 for four consecutive days will result in a bearish trend.

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.

Trade without emotions

"Print this report only if absolutely necessary. Save Paper. Save Trees."


UK session starts around 2:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 7pm pm Indian Standard Time (+5:30 GMT)




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