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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 11 June 2014 | Print  | Disqus 

Over the past one year gold and silver have risen mostly on days when there was a US economic data vacuum. Yesterday was no exception. They are looking mildly bullish at the moment and can rise further. They need to trade over $1252 and $19.00 for further gains.

There are a lot of concerns over gold and silver as a bad long term investment. All I can say is that the value of gold and silver will not fall by half from here in the next five years. While some of the equity investment which you have made in the month of May could be zero in the next five years. Gold and silver crashed from the highs as traders and investors used it as a means to make a real quick profit and ended up with the reverse. The same will happen to stock market investment in the next three years as traders and investors all alike think that stock market investment is now a means to make a quick buck and go. Only long term traders in stock markets and commodity markets who survive while quick buckers will end up in a lifelong debt dead bed.

A bit on India

The Indian media is comparing the Prime Minister Narendra Modi to ex UK Prime Minister Margaret Thatcher. “Thatcherism” is all about making the right policies and leaving the rest to private companies. It implies there will more sales of public sector undertakings and increasing limits for global investors in every sector. As a result more and more foreign investors are bullish on India.  I even expect the Indian postal service to be privatized in the next five years apart from railways.

In the Indian media there is lot of politics going on over resumption of electricity cuts to the national capital New Delhi. One should look at electricity supplies to places in fifty kilometer radius from New Delhi. These places are experiencing over ten hours of power cuts every day and the media never reports the same.

The NDA government through the president address at the joint session of the parliament said that there will be an IIT and IIM in every district of India. The government should focus on quality. Quantity should be left to private educational institutions and limits can be placed on maximum fees. The area which the NDA government should focus on for quantity is free health care facilities. In New Delhi there is the state run “All India Institute of Medical sciences” (AIIMS). It is comparable to the best state run medical facility in the world. Quantity wise every district in India needs an AIIMS like institution. (In India for a common man using a private healthcare facility even for common disease like malaria and others could end with the person taking a debt due to nexus between medical companies, doctors and private hospitals. Generics are never given. A la GSK).

TECHNICAL VIEW

MCX SILVER JULY – prices in Indian rupees below

Silver needs to trade over 40620 today to target 40992-41710. Initial support is at 40234 with 39849 as the key support. We prefer to watch 40620 and buy silver if and only if silver trades over 40620.

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 Chintan Karnani

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."

NOTES TO THE ABOVE REPORT

Follow us on Twitter @insigniaconsul1

UK session starts around 1:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)

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

Customer care: 9311139549

You can also mail your queries at insigniacommodity@gmail.com

Chat Id: mcxsuretips@gmail.com (gtalk), insigniaconsultants@yahoo.com (yahoo)

              (10:30 am to 5:30 pm Indian time, Monday to Friday)

 


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