-- Published: Monday, 14 July 2014 | Print | Disqus
Al Qaeda was created by the Americans to drive out Russians from Afghanistan. Certain developments in Syria and Iraq which I have tried to look much more behind the actual news makes me believe that ISIL is also a creation of the Americans. Al Qaeda is now history. ISIL is now the real force to reckon with and they are getting stronger with passing of each hour. ISIL empire, in the future years could begin from North Africa and end with Indian occupied Kashmir. Parts of Iran, Iraq, Egypt, Nigeria and India could be a part of the ISIL empire. Al Qaeda had just hardline Islamic followers from all over Asia. ISIL has hardline Islamic followers from all over the world. The numbers of people in the age group of 14 years to 30 years joining ISIL is rising at a speed never witnessed in history before. ISIL has global reach, acceptability and unlimited access to funds and manpower. ISIL wants to rule. Iraq gives us a signal that they are also getting people support. The larger the spread of ISIL, the quicker are the chances of gold breaking past $2000.
Israeli navy commandos launched a ground operation against Hamas. This can result in gold rising to $1430 and $1520 in the next two weeks to three weeks. The longer gold trades over $1330, the higher are the chances of a rise to $1520 in the very short term. Expectation of higher interest rates in the USA and elsewhere in the world are being superseded by geopolitical risk. NATO is in a very aggressive phase of expansion as can been seen by Ukraine joining NATO. Russia wants to stop NATO.
Gold and silver would have crashed like a pack of cards but for ISIL and other geopolitical risk. I have my doubts whether the Federal Reserve will raise interest rates as the quickly as factored in by the markets. The Federal Reserve will follow the Bank of England on interest rates. There will be a bigger time gap between the end of QE and the start of higher interest rates.
COMEX GOLD AUGUST 2014 – current price $1338.00
Bullish over $1326.00 with $1352.00 and $1376.00 price target
Bearish below $1316.00 with $1309.00 and $1296.00 as price target
Neutral Zone between $1316 and $1326
- Gold needs to trade over $1326 to target $1358-$1366
- There will be sellers only if gold trades below $1331 either in UK session or US session
COMEX SILVER SEPTEMBER 2014 – current price $2148.0
Bullish over $2103 with $2176 and $2300 as price target
Bearish below $2083 with $2070-$2033 as price target
Neutral Zone between: $2083-$2103
- Key resistance is at $2196 and only a break of $2196 will result in another wave of rise to $2300-$2500
- Initial support is at $2124
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 firstname.lastname@example.org
Chat Id: email@example.com (gtalk), firstname.lastname@example.org (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
| Digg This Article
-- Published: Monday, 14 July 2014 | E-Mail | Print | Source: GoldSeek.com