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

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 24 July 2015 | Print  | Disqus 

I intend to buy gold when retail selling gets absurd. Retail investors are selling aggressively in the futures market. ETFs are witnessing historical outflows. This is the nature of every investment. The boom-bust cycle is there in every commodity. But unless previous boom-bust commodity cycles, this one will be much shorter than previous ones. The rise of gold prices is more politically motivated. I repeat what I have been saying for a long time. US president Obama is from Chicago, which is the global hub for commodity trading. In his first tenure as US president, commodities witnessed a historical rise. In his second tenure, commodities are witnessing a historical fall. The commodity super bull cycle will begin once Obama vacates the office of US president. I am more than confident for the same. One should use the period till January 2017 to buy lots and lots of physical gold and silver.

There is all round outflows from all metals and energies. Investors have panicked. Copper has broken key long term support of $238 and can fall another fifteen percent if it trades below $238 till Monday. Silver is just a matter of time before it starts another sell off. Silver looks headed for $1243 and $1172 in case it falls below $1410.

TODAY

Gold can fall to $985.50 and $865 on a fall below $1044. Silver can fall to $1243 and $1172 as long as it trades below $1515.

COMEX TECHNICAL VIEW

COMEX GOLD AUGUST 2015 – current price $1078.60

Bullish over $1104.10 with $1114.00 and $1131.00 as price target

Bearish below $1078.00 with $1066.70 and $1044.10 as price target

Neutral Zone between $1078.00-1104.10

Jobbers aggressive buy over: No Call

Jobbers aggressive sell below: Selling only if gold trades below $1073 today.

  • There will be another big wave of selling below $1073 to $1044 and $$986.
  • A daily close below $1114 today will be very bearish for next week.

COMEX SILVER SEPTEMBER 2015 – current price $1451.50

Bullish over $1505 with $1556-$1581-$1607 as price target

Bearish below $1470 with $1428-$1397 and $1330 as price target

Neutral Zone between: $1470 and $1505

Jobbers aggressive buy over: NO call

Jobbers aggressive sell below: I am against selling unless silver trades below $1447 either in the UK session or the US session.

  • Silver can fall to $1397 and $1244 by next week as long as it trades below $1500
  • Do not buy.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $48.77

Bullish over $50.70 with $49.90 and $52.20 as price target

Bearish below $49.20 with $47.60 and $46.30 as price target

Jobbers buy over: NO call

Jobbers sell below: Risky traders sell below $48.70 stop loss $49.70 for $46.80

  • Initial support is at $47.57. There will be another big wave of selling below $47.57 today.
  • A daily close below $49.20 today will be very bearish for crude oil for next week.

COMEX COPPER SEPTEMBER 2014 – current price $236.40

Bullish over $247.00 with $252.30 -$257.60 as price target

Bearish below $242.00 with $231.10-$213.10 as price target

Neutral Zone between: $242.00 and $247.00

  • This year’s low of $238.10 needs to hold to prevent another big sell off to $213.40.
  • Do not buy any commodities.

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, 24 July 2015 | 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.