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Asian Metals Market Update



By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 5 October 2015 | Print  | Disqus 

The US dollar has not significantly weakened after the release of US September nonfarm payrolls. The US economy is still one of the better growing nations in the world. Cautious investors will wait and see if gold and silver are able to hold on to current prices. If they are able to trade over $1130 and $1500 this week, then cautious investors will start making small amounts of investment. Aggressive investment in gold and silver will come only if gold trades over $1160 for a few days and silver trades over $1590 for a few days. The demand outlook for silver is more bullish than gold.

Energy price direction will be more of a political move. Russia entering the Syrian war will imply that crude oil and natural gas prices continue to fall and/or trades with a softer bias. Russia’s Putin approval ratings have skyrocketed after the air strikes in Syria. Russia should be able to control the spread of the Islamic State. France, Australia and other NATO forces intentions to wipe out the Islamic state have raised doubts globally (after their failure). Americans are now expected to supply more advanced weapons to NATO supported rebels. This will only escalate the war between NATO and Russia but can also divide a united Europe. Russia in Syria will have a medium term positive impact on gold and silver.

Indian demand for gold and silver will rise from next week for a period of one month. This is the best chance for gold and silver. If still gold and silver are unable to rise, then their prices are for now controlled by central banks. The numbers of positive factors to support short term higher gold and silver prices far outnumber the negatives.

TECHNICAL VIEW

COMEX SILVER DECEMBER 2015 – current price $1523.00

Bullish over $1483 with $1545-$1571 and $1632 as price target

Bearish below $1464 with $1449 and $1421 as price target

Neutral Zone between: $1464 and $1483

Jobbers aggressive buy over: Buy if and only if silver trades over $1524 strict stop loss $1507 for $1571-$1592 and $1617

Jobbers sell below: Selling silver if it trades below $1482 stop loss $1496 for $1464-1451-$1431

  • Silver has to break the $1530-$1571 jinx zone for another wave of rise to $1617 and $1704. On the lower side $1483 is the initial support and there will be sellers only below $1483.
  • Use sharp dips (if any) to buy with a stop loss below $1462 for tomorrow.
  • Jobbers watch $1502 and $1530 all the time.

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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