LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

COT Gold, Silver and US Dollar Index Report - August 23, 2019

Gold Mid-Tiers’ Q2’19 Fundamentals
By: Adam Hamilton, Zeal Research

Trump Floats Payroll & Capital Gains Tax Cues to Forestall Recession
By: Mike Gleason

How’s That Recession Coming, Dave?
By: David Haggith

Precious Metals Update Video: Jackson Hole Powell's Speech in focus today, Gold bias is up
By: Ira Epstein

Seven Key Words That Explain "Stupidly High" Prices
By: Daniel R. Amerman

Gold, Silver, Mining Stocks: Get Ready For A Huge Ride Higher
By: Dave Kranzler

On The Job Training
By: Ted Butler

Precious Metals Update Video: FOMC minutes: What's going on?
By: Ira Epstein

Economist Lays Out the Next Step to Wonderland for the Fed
By: Gary Tanashian


GoldSeek Web

Asian Metals Market Update: May-17-2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 17 May 2016 | Print  | Disqus 

Yesterday’s fall in gold from $1290 to $1272 was very quick. All buy stop losses got triggered. There was a chain reaction. There will be similar moves everyday. The bad thing is that gold was not able to break past $1300, despite having a good chance for the same. Momentum is still bearish for gold. Everyone wants to invest in gold. In case is not able to break past $1310 by 10th June, then frustration will come to investors and there can be short term outflows from gold ETF’s. Gold is at a critical juncture in the next month. Either it breaks $1310 or a big short term correction. However I will prefer to use sharp corrections to invest for year end.


I am bullish on silver for the next two years. Silver fundamentals are changing from negative to positive. Silver’s demand trajectory will only rise over the coming months. A Chinese economic stagnation (if any) will not affect silver demand in a big way. Only the pace of rise of silver will vary every month. Some months there will be a very quick rise in silver. While in other months silver prices could consolidate for a much longer period than we expect.


Progress of Indian monsoons in my view will not affect Indian rural demand. A good monsoon may not result in zooming of gold demand from rural areas. Rural India’s purchasing power has been a gradual decline. Unless Indian rural inflation stabilizes, gold demand from rural India may not rise in the way the world gold council expects.



COMEX JUNE 2016 – current price $1280.60

Bullish over $1275.10 with $1288.70 and $1307.70 as price target

Bearish below $1271.30 with $1266.70-$1258.10 as price target

Neutral Zone between $1271.30 and $1275.10

  • Gold needs to break and trade over $1297 to attract short covering and another wave of rise.
  • There will be buyers on dips as long as gold trades over $1250.
  • Jobbers watch $1278 all the time.

MCX GOLD JUNE – previous day close Rsa.29977

Gold has been trading in Rs.29600-Rs.30300 trading range. This range will be broken soon and a new range will be formed. There will be sellers on rise unless gold prices show strong technical evidence of floating over Rs.30230. Gold June futures are expiring at the end of the month. Gold prices need to trade over Rs.29200 for the rest of the month to continue its bullish trend.

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."


Follow us on Twitter @insigniaconsul1

UK session starts around 2:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 7pm pm Indian Standard Time (+5:30 GMT)




Customer care: 9311139549

You can also mail your queries at ‘s

Chat Id: (gtalk), (yahoo)

              (10:30 am to 5:30 pm Indian time, Monday to Friday)


| Digg This Article
 -- Published: Tuesday, 17 May 2016 | E-Mail  | Print  | Source:

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


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.