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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 8 July 2014 | Print  | Disqus 

Skirmishes between Israel and Hamas will only increase safe haven demand for gold and silver. This is the one key reason why gold and silver have remained firm. Gold and silver bears will try their best to ensure that gold falls below $1305 and $1270 respectively. In case bears fail by Friday, then there will be massive short covering.

A Bit on the Indian Railways

Over the decades the government of India has used the Indian Railways just as a means of transporting people from one destination to another. The key problem areas for the common man are: (a) Most of the times trains are late. Food quality is below par except key trains. Quality of food available in stations is substandard (except stations in major cities). The reasons railways give is that food is subsidized. There is one section of people who are ready to pay a higher price for food. That section has not been tapped. (b) Toilets in trains and stations are filthy and stinking. The changes needed in my view: (i) Railways should be used as a means of mass communication educating people on social topics like gender inequality among kids and preference for a male child by most Indians, ways and means to reduce female foeticide, promoting government policies etc .(ii) Premium foodservices should be available on all key routes. (iii) Installation of solar roof top panels on all stations wherever possible in an urgent basis. (iv) Ensuring that stations remain clean like the delhi metro. (v) Exploring unconventional means of generating revenues. Millions of people travel by day on railways. Some unconventional creative ideas should be implemented in a way that railways generate revenues and it is more comfortable. There should not be any furore of fare hikes.

There is no major US economic data release. Gold will break free from the $1310-$1335 range and form a new range. Silver can rise to $21.33-$21.70 as long as it trades over $20.83.

There will be blips of sharp one way moves followed by period of consolidation.

TECHNICAL VIEW

COMEX SILVER SEPTEMBER 2014 – current price $2109.50

Bullish over $20.82 with $21.33 and $21.96 as price target

Bearish below $20.54 with $20.32-$20.18 as price target

Neutral Zone between: $20.54-$20.82

  • Silver needs to trade over $2105 to target $21.33-$21.70
  • There will be sellers if silver trades below $21.05 either in UK session or US session

MCX SILVER SEPTEMBER 2014 – prices in Indian rupees below

It can rise to 45050-45750 as long as it trades over 44500. There will be sellers only if silver trades below 44500 either in the UK session or the US session. Better to remain on the sidelines today.

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: Tuesday, 8 July 2014 | E-Mail  | Print  | Source: GoldSeek.com

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