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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 13 November 2014 | Print  | Disqus 

Banks have been penalized for manipulation of currency markets and for manipulation of silver prices. Silver prices are very easy to manipulate. A few years back JP Morgan was fined for silver price manipulation. Gold and silver traders need to live with manipulation. Gold and silver are on weak fundamentals. All these manipulators will bite the dust when fundamentals are strong. I foresee a big rise in gold and silver demand from 2016. Gold and silver physical demand in 2015 will be much higher than the current year. Europeans and Americans have realized the need to invest in physical gold. Asians have it in their genes to invest in physical gold.

I want gold and silver to get ripped apart and be dumped in a trash can by investors. At the right levels I will increase my investment portfolio in bullion to over thirty percent. Excess pessimism in any financial instrument can continue for a far longer time than most of us dream. However in the short term and/or for people investing in gold and silver for a period of six months to one year, they need to be watchful as the volatility will test every inch of their nerves.

There are a lot of big US economic data releases tomorrow with (A) October retail sales (B) University of Michigan Consumer sentiment and inflation expectations. These numbers can impact the US dollar and bullion prices.

There will be sellers on rise as gold has not been able to break past $1182. In case gold does not break $1182 by next Friday (21st November), then it will fall to $1110 and $1087. This is just the technical view. For now gold is in a neutral zone where a one way $20 move can happen anytime. Silver can fall to $1465 and $1410 by next Friday (21st November) in case it does not break and trade over $1645. For now silver is a neutral zone. There will be another wave of selling if it trades below $1530 either in the UK session or the US session.

TECHNICAL VIEW

MCX GOLD DECEMBER 2014 – prices in Indian Rupees below

Failure to break and trade over 26263 by next week will result in a fall to 24833 and 24531. For now gold is in a neutral zone and needs to trade over 25700 to prevent a big sell off to 25383 and below.

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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