-- Published: Wednesday, 10 June 2015 | Print | Disqus
Every day I read news of the UK and the USA sending military trainers to Iraq and Ukraine. Going by the pathetic situation in these regions I believe that the Obama government is training the Islamic forces and that NATO does not have an intention to stop the Islamic state from expanding. Most of the young radicalized men and women cross over from Turkey to Syria and then join the Islamic state. Turkey is not doing anything to prevent these people from joining the Islamic state. Indirectly Turkey is supporting the Islamic state movement. Turkey would not have done so unless backed by NATO. America continues to spy on its own people and the own world. Russia is trying to move away from US spy software of Android, Windows and also it will be moving away from American credit card payment gateway (Visa, MasterCard etc) in its own domestically developed system. China is also moving away from American developed technology to ensure that spying is reduced. Once American spying is reduced, the latent power of America to control the world through the phrase “Trade Sanctions” gets over. The end result is gold or gold backed currencies will be the norm.
One needs to trade very carefully. Momentum is bearish for gold and silver. Copper is neutral. Crude oil needs to trade over $60 to prevent intraday selling. European central bankers are buying gold. They are overtly buying gold. They are not idiots. I believe that mid 2016 will see the start to another never before seen bull rally in gold and silver. But before mid 2016, there could be another scary fall.
Consolidation will be there unless there is either a technical breakout or a technical breakdown.
Indian Physical silver prices – prices in Indian rupees below
Key support is at Rs.37000/kg. The next wave of selling will be there only below Rs.37000/kg. Physical demand is not that great. As long as silver trades over Rs.37000/kg it will trade in Rs.37000-Rs.40500 range.
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 email@example.com
Chat Id: firstname.lastname@example.org (gtalk), email@example.com (yahoo)
(10:30 am to 5:30 pm Indian time, Monday to Friday)
| Digg This Article
-- Published: Wednesday, 10 June 2015 | E-Mail | Print | Source: GoldSeek.com