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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 27 June 2014 | Print  | Disqus 

Gold is stuck between a $1305-$1330 range. This range will be broken soon and a new range will be formed. Silver is looking bullish at the moment and needs to trade over $20.70 to be in a bullish zone.

Traders will be taking positions for next week’s US June nonfarm payrolls on 3rd July (Thursday). Federal Reserve officials have said that US interest rates could rise as early as early 2015. US June nonfarm payrolls will confirm whether this happens or not.

Be prepared for another big one way move in gold and silver anytime. Iraq will be the key.

TECHNICAL VIEW

MCX GOLD AUGUST 2014 – prices in Indian rupees below

Key support till Monday is at 27300 and as long as gold trades over 27300, the chances of a rise to 27968-28303 will be there. Short term bearish trend will be there only if gold does not break 28303 by next Friday (4th July 2014). Jobbers watch 27604 and trade accordingly.

COMEX SILVER JULY 2014 – current price $2107.50

Bullish over $20.64 with $21.31 and $21.72 as price target

Bearish below $20.30 with $20.05-$19.70 as price target

Neutral Zone between: $20.30-$20.64

  • Silver needs to trade over $20.70 to target $21.45-$22.10
  • Remain on the sidelines

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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 -- Published: Friday, 27 June 2014 | E-Mail  | Print  | Source: GoldSeek.com

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