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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 16 September 2014 | Print  | Disqus 

The Federal Reserve meeting is keeping people on the sidelines. Emerging markets and commodities will be affected in a big way if the forward guidance indicates an interest rates hike of over one percent in the next twelve months. Energy prices are low. Inflation in the US and globally will fall. The Federal Reserve will not be aggressive in raising interest rates due to low energy price inflation. Any interest rate hike has already been discounted by the commodity markets. Gold may not have the big crash (after the FOMC meet) as the investors are currently factoring.

Focus will be on Scottish Independence vote also. The UK is trying its best to prevent a “yes” vote. A “yes” vote will be very bullish for gold.

Indian demand for gold and silver will be high if prices stabilize. Indians will be buyers on dips as long as gold prices do not fall below Rs.27500 and silver prices do not fall below Rs.40000. Indian buyers will vanish temporarily if and when gold prices fall below Rs.27500 and silver prices falls below Rs.40,000.

In case the euro/usd does not fall below 1.2740 by Friday then it will rise to 1.3225 and 1.3750 in the short term. A rise in the euro/usd can result in a temporary spike in gold and silver prices. After the initial rise (if any), investors will be looking forward for clues on sustainability.

TODAY

Remain on the sidelines. Momentum is still bearish for gold and silver.

TECHNICAL VIEW

COMEX SILVER DCEMBER 2014 – current price $1866.50

Bullish over $1862 with $1890 and $1930 as price target

Bearish below $1839 with $1816-$1789 as price target

Neutral Zone between: $1839-$1862

  • Silver can rise to $1970 and $2120 it is able to trade over $1830 by Friday.
  • We prefer to be on the sidelines.
  • There will be sellers if silver trades below $1849 in US session.
  • Jobbers watch $1866 all the time.

MCX SILVER DECEMBER 2014 – prices in Indian Rupees below

Key weekly support is at 40627. Silver can rise to 41992-43124 and 44024 by Friday as long as it trades over 40627. There will be another wave of selling only below 40627. Jobbers watch 41332 and 41694 today and trade accordingly.

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, 16 September 2014 | E-Mail  | Print  | Source: GoldSeek.com

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Sita Ram Bazar, New Delhi-110006. India.
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