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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 18 July 2014 | Print  | Disqus 

The shooting down of a Malaysian passenger plane over the Russian-Ukrainian border will only increase geopolitical risk and should be bullish for gold and silver. Unconfirmed reports suggest that the rocket which hit the Malaysian airline was intended to hit Russian president Putin who was on the same route to Russia. Now the Americans and Europeans are cooking up stories that Russian supported terrorists downed the Malaysian passenger plane. In my view it was a failed sabotage attempt to assassinate Russian president comrade Putin.  Now the Americans will play a propaganda war to ensure that Russia feels the heat of global isolation in the near term and an ultimate break of up in the long term. I think the USA will be successful in the disintegration of Russia. Manipulating gold prices to ensure that it crashes is one of the ways to destabilize Russia and nations which do not act as puppets of America.

For the USA the lives of three hundred people is peanuts to advance their own cause of disintegration of Russia. Unofficially thousands of people die every day in the Middle East and in the North Africa region. Israel has invaded Gaza, the Americans are mum, the French utter words like a baby kitten and the great Germans are dumb. There is no justification of Israel killing innocents in Gaza.

The focus of the world will be on geopolitical risk. Gold and silver will crash if and only if geopolitical risks reduce. Strangely we have a weekend. This could test investors’ decision making ability over the need to carry positions for Monday. Crude oil will be bullish.

American and Europeans are trying to isolate the world. In the long term, may be after fifteen years. I see the world isolating Americans and Europeans. Emerging markets economies are trying to move towards self-sufficiency. To meet their energy demand they are increasing the use of solar, wind and other forms of energy which they need not import. Once energy dependence is reduced, nations will isolate America and American companies.

It is now or never for gold. Gold has to break and trade over $1355 by next week. In case does not break $1355 by next week, then it will fall to $1276 and $1230. Right now gold is in a neutral zone.

Key US economic data releases today: US consumer sentiment and US June leading indicators

MCX GOLD AUGUST – prices in Indian Rupees below

  • View till next week: Gold has to break and trade over 29300 by next Friday for another set of rise. In case gold does not break and trade over 29300 by next Friday, then it will fall to 27200 and 26500.
  • Today’s View: Gold has to trade over 28056 to target 28512-28976. There will be sellers only if gold trades below 28056.

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

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