-- Published: Thursday, 16 October 2014 | Print | Disqus
Indian demand for jewelry and investment purposes in physical gold and silver has been very high and will continue to remain strong for another week. Apprehensions over the sustainability over US economic growth resulted in a rise bond prices followed by a rise in bullion prices. Investors now are nearing the conclusion that only US economic growth cannot lift global economic growth (next year). This is the sole reason for the US dollar decline. A weaker US dollar and lower bond yields will always be bullish for gold and silver. However gold needs to rise in November for a massive rise and massive short covering. Investors are now of the belief that Asian demand for gold and silver will fall in November which can trigger another wave of decline in bullion prices.
The Middle East is also a sick zone with the “Islamic State” advancing with the passage of each hour. Ebola, the newest uncurable disease, can have implications on global economic growth.
MCX GOLD DECEMBER 2014 – prices in Indian Rupees below
Gold can rise to 27363-27562 and 27996 as long as it trades over the 26960-27100 zone. There will be sellers only if gold falls below 27100 or gold does not break 27362 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
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NOTES TO THE ABOVE REPORT
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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
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-- Published: Thursday, 16 October 2014 | E-Mail | Print | Source: GoldSeek.com