Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

The Dow Gold Ratio
By: Rambus

Friday’s COT Report: A WTF Moment For the Ages?
By: Ed Steer

Finally, Gold Speculators Start To Bail, Setting Up A Big Q1 2018
By: John Rubino

Gold Demand in the Singapore Bullion Market
By: BullionStar

Why Do You Keep Doing This To Yourself?
By: Avi Gilburt

Asian Metals Market Update: December-11-2017
By: Chintan Karnani, Insignia Consultants

GoldSeek.com Radio: Peter Schiff and Dan Norcini, and your host Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update Dec 10
By: David Chapman

Could gold do a bitcoin and hit $10,000 an ounce in 2018?
By: Peter Cooper

Automatic Job Storm Coming
By: John Mauldin

 
Search

GoldSeek Web

 
Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 14 November 2014 | Print  | Disqus 

Weakness of the Japanese Yen against the US dollar is preventing a rise in gold and silver. Yen price movement has been one of the key contributors of gold and silver’s price rise since 2003. Yen price swings will affect bullion prices. Lower crude oil prices are also preventing gold and silver from a rise. Nymex crude oil has completed one full circle of rise and fall at $74.07. It will not be easy for Nymex crude oil to fall below $67.15 for the next six months. The key long term support is at $67.15. Long term crude oil investors will invest in a big way if prices fall around $67.15 (Nymex) any time for the rest of the year and next year.

Huge speculation of further curbs on gold imports by India and my view

After the release of Indian gold import figures yesterday by world gold council, there has been huge speculation of further curbs in official gold imports in India. Even some of the top jewelers in different parts of India are increasing their gold inventory (with a hedge) in anticipation of curbs on imports. My personal view is that the government should ignore September to November gold import numbers as they are due to festivals and the arrival of the Hindu marriage season. In case India’s gold imports rise from December and/or there are indications from early December, then gold imports curbs should be implemented in a big way.

Another way to interpret the government of India’s move to curb gold imports (if any) is that the Indian government think tank expects that global gold prices will fall very sharply from here which can hyper inflate the Indian import bill and add pressures to fiscal management of the nation.

TECHNICAL VIEW

COMEX GOLD DECEMBER 2014 – current price $1159.00

Bullish over $1154 with $1181.00 and $1220.00 price target

Bearish below $1137.00 with $1121.70 and $1109.10 as price target

Neutral Zone between $1137 and $1154

  • Gold needs to fall below $1143 or break and trade over $1183 for direction.
  • There will be another wave of selling if gold trades below $1154 either in the UK session or the US session.
  • Jobbers watch $1160

MCX SILVER DECCEMBER – prices in Indian rupees below

Key short resistance is at 35418. As long as silver does not break 35418 it will consolidate in 34113-34808-35418 range. Key price to watch is at 34808

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)

 


| Digg This Article
 -- Published: Friday, 14 November 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.