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By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 10 December 2014 | Print  | Disqus 

It was a bull’s eye yesterday. I was expecting a sharp rally in gold and silver and it happened. The CIA torture report will result in nations even further try and increase bilateral trade where the end settlement will not be in US dollars. The current rise in gold and silver is here to stay. It will now be very difficult for gold to fall below $1140 and for silver to fall below $15.00. Laggards will be using the fall (if any) in gold and silver to invest. Short sellers will also be using the fall (if any) to square off their long positions.

There is once again no major US economic data releases today. It will be a technical trade which is bullish for gold and silver. The Federal Reserve will delay the expected interest rate rise next year. This is also bullish for gold and silver. For now I keep my fingers crossed.

Weekend developments in Japan by way of Japanese elections will be the key. I suspect that yesterday’s rise in gold and silver was caused by higher investment demand by Japanese hedge funds.

Why I am always bullish on gold and silver in the long term

History suggests that in the latter half of the second decade of every century (A) Nations boundaries gets changed. In the present case Russia is on the verge of a big disintegration in the next five years. The rise of the Islamic state has resulted in Middle East nations boundaries getting changed. (B) People loose freedom. Internet is no more free. The torture of people by the state is putting us back into the barbaric feudalistic society which Europe had witnessed centuries ago. NATO and the barbaric clan are the same. The state spying of the common man is so high that it has been witnessed in history (C) World peace is at the lowest level in the latter half of the second decade of every century. There is fear everywhere, whether it is the state fear or the terror fear. On paper the world is at peace. But there is more unofficial fighting going everywhere.

To me history is repeating itself. The current indications are good enough. The rise of the Islamic culture implies a far less peaceful world. Christianity will be ultimately replaced by Islam as the religion of the twenty-first century. The rise of Islam and the rise of gold and silver prices will be synonymous.

Last but not the least: Global climate change will also support gold and silver because future technology will use both gold and silver to delay the extinction of human beings from earth. I am not talking about the demise of the US dollar as everyone knows that.

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

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