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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 19 August 2014 | Print  | Disqus 

Traders are gauging the economic effects of Russian counter sanctions on the European economy. The prices of fruits and vegetables in some of the European nations have fallen drastically. There are chances that some of these nations could move into deflation. The European Union (EU) is saying that nations affected by Russian counter sanctions will get compensated. Where will the money come from? Obviously money will be printed. Excess money will lead to long term asset bubble creation which this time will be uncontrollable.

The combined actions by the USA, the EU and NATO against nations which do not succumb to their whims and fancies are an indication that in the long term gold and silver will zoom. In the short term, the inability of gold and silver to rise can result in reduced gold investment demand. In India gold investment demand will fall further as equity markets are now offering far better returns than investment in metals and energies. Further the outlook for Indian equity markets is rosy. Until and unless physical gold and silver demand from Asia (excluding Middle East) rises, gold prices could remain subdued for a longer duration than most of us expect. Gold investors need to have patience.

Death Planning – my new financial planning tool

Sounds weird, when I say death planning. My father passed off in the early eighties in BellVue Nursing Home, Calcutta after suffering two heart attacks in a span of just three months. My mother passed off a few years back in Medanta hospital Gurgaon due to an inoperable heart surgery leading to multiple organ failure. Both BellVue Nursing Home, Calcutta and Medanta hospital Gurgaon are the best hospitals in India. It had cost a lot of money for attempts to save their lives and a substantial part of my savings was used for my mother’s treatment. (I was just a kid when I father had passed off).

After seeing both my mother and father dying in hospital, I keep on telling myself every day that I just hope that I will not die in a hospital and give all my life monetary savings to these hospitals on death. Later I asked myself, am I doing enough to prevent myself to die in a hospital. The answer was no. (A) With passage of age we need to change our diet, exercise and other life style changes. (B) Get a larger sum medical insurance premium. Please disclose truthfully all facts which is needed to assess your premium so that later when in need, the insurance company does not pass your claims due to non-disclosure of key facts. (C) Medical insurance amounts should be progressively increased keeping in line with future rise in costs of ones treatment. (D) Get a regular checkup. But preferably take a view from a surgeon as he is person who will perform if there is any need for surgery in later years in life. (My mother could have lived if I had taken a view from a heart surgeon instead of a specialist heart physician). (E) Eat healthy to live and not live to eat should be our motto.  Diet changes can prevent one from dying in a hospital (F) These days some of the young people in the late twenties are getting diseases which were the domain of sixty plus people around two decades back. There is no age for any disease. One needs to be cautious once they start earning. (G) A slight bias towards religion also helps in increasing will power to get to challenging circumstances in life. (I have never been a religious person. My knowledge about Hinduism is more or less zero. However in my free time, now I am trying to know more about Hinduism and I am getting the benefits of the same.)

The place of our death is already set by the almighty based on our karmas. However we can change that with a little effort in our daily lives. Live disease free and die without all kinds needles all over our body.

TODAY

There are lots of US economic data releases from today. In case gold and silver rise today, then physical demand in India will rise. Developments in Ukraine will be the key.

COMEX TECHNICAL VIEW

MCX GOLD OCTOBER 2014 – prices in Indian rupees below

Initial support is at 28224 and only a fall below 28224 will trigger the next wave of selling to 28077 and 27948. Overall gold is bearish as long as it trades below 28419.

MCX SILVER SEPTEMBER 2014 – prices in Indian rupees below

Key support is at 42283 and silver needs to trade over 42283 today to rise to 43032-43560. There will be a technical break down only below 42283 to 41533. We are against going long in silver as long as it trades below 43030.

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, 19 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

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