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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 1 April 2015 | Print  | Disqus 

It is a new month and a new quarter. The pace of movement (up or down) of the US dollar will direct metals and energies prices apart from key technicals. Physical demand from India could remain subdued due to massive crop losses in northern India and central India. Rural demand for gold from northern India and central India will fall in April. There is a rural-urban divide as far as gold and silver demand is concerned. Urban Indian’s will lap up gold and silver if there is a big crash in prices from here. Akshay Tritiya is also around 21st April. Indian demand after Akshay Tritiya will be dependent on prices.

US March private ADP numbers will be the key. Incoming US economic data releases this month will be closely scrutinized for interest rate trends. The Federal Reserve meeting is towards the end of the month. Geopolitical developments will later than sooner have a positive effect on bullion prices. Where NATO has intervened, the nation becomes a war zone followed by large scale mascara of innocents. This will in the long term be positive for gold. US stocks markets, if they continue their rise till September this year, will move into a bubble zone. In the short term I see more positive factors for higher gold prices for the rest of the year. A US interest rate hike (if any) is the US only negative factor for gold and silver prices. It is now up to the gold bulls to encash.

Every investor in the world wants to invest like he is watching a T20 cricket watch. Gold investing and silver investing is like playing a cricket test match. One can play T20 investing game in stock markets. The profits from T20 investing should be equally divided between cricket test match style of bullion and land.

TECHNICAL VIEW

COMEX GOLD JUNE 2015 – current price $1187.20

Bullish over $1190.20 with $1197.60-$1206.60 and $1218.60 price target

Bearish below $1179.10 with $1174.20 and $1160.40 as price target

Neutral Zone between $1179.10 and $1190.20

Jobbers aggressive buy over: Buy if gold trades over $1190 in the UK session stop loss $1184 for $1199 and $12206

Jobbers aggressive sell below: Selling only if gold trades below $1175 either in the UK session or the US session stop loss $1181 for $1169.90 and $1160

  • Gold needs to trade over $1170-$1179 zone today to prevent another sell off.
  • Take the lower base price of $1175 and do your intraday trades.
  • Trade very carefully between (a) $1160-$1175 zone (b) $1193-$1199 zone

COMEX SILVER MAY 2015 – current price $1668.50

Bullish over $1688 with $1726 and $1773 as price target

Bearish below $1649 with $1630 and $1602 as price target

Neutral Zone between: $1649 and $1688

Jobbers aggressive buy over:  Buy over $1700 stop loss $1686 for $1726-$1747 and $1801 (use a strict stop loss in this call)

Jobbers aggressive sell below: Selling only if silver trades below $1660 either in the UK session or the US session stop loss $1676 for $1647 and $1627 (very high risk call)

  • There is a support in silver on every $25 fall till $1575. It remains to be seen if silver is able to hold on to the supports.
  • Today silver needs to fall below $1625 or break and trade over $1700 for direction.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $47.30

Bullish over $48.90 with $49.75-$52.40 as price target

Bearish below $48.10 with $46.70 and $45.10 as price target

Jobbers buy over: $48.10 stop loss $47.40 for $49.10-$50.30

Jobbers sell below: Remain on the sell side as long as crude oil trades below $47.90

  • Crude oil key support between $42.10-$45.30. It needs to trade over this zone for the whole of April to be in bullish zone.
  • Trade carefully.

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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