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

Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 6 22 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - June 22, 2018
By: GoldSeek.com

Gerald Celente: Why You Still Need Guns, Gold, and a Getaway Plan...
By: Mike Gleason

A Trade War Won't Be Good for the Dollar
By: Peter Schiff

Cheap Gold Stocks Basing 2
By: Adam Hamilton, CPA

3 Amigos (SPX/Gold, Long-term Yields and Yield Curve) Updated
By: Gary Tanashian

Sane People Absolutely Know Better!
By: Gary Christenson

How Long Can This Last?
By: Arkadiusz Sieron

Housing Bubble Pathologies, Part 2: Fewer Babies And More Stressed-Out Renters
By: John Rubino

 
Search

GoldSeek Web

 
Asian Metals Market Update: June-21-2016



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 22 June 2016 | Print  | Disqus 

Ignore the UK exit vote. It is more or less a done deal that UK will remain in the European Union. After the UK vote tomorrow, traders will assess its impact on other European states. Right wing political parties are getting more votes as European voters.  The UK poll irrespective of the outcome will only increase their growing mass popularity. I am generally bullish on gold and silver (for the rest of the year) but in this journey there will be interest rate speed breakers. Gold will now get more investment demand (whether physical/distress purchases or in ETF’s) and less jewelry demand. Rise in investment demand sentiment for gold is always an indication of another 2004-2011 style of rise.

 

Yellen in her testimony has said that interest rates will rise gradually. All parameters of the US economy other than jobs are showing signs of a sustained recovery. An interest rate hike will be there this year. Pace guessing will keep traders on their toes.

 

COMEX AUGUST 2016 – current price $1271.70

Bullish over $1282.00 with $1297.10 and $1316.30 as price target

Bearish below $1272.20 with $1272.30-$1251.10 as price target

Neutral Zone between $1277.40 and $1282.00

  • Gold needs to trade over $1266 till tomorrow to prevent a fall to $1258 and $1241 and $1217.
  • Only a consolidated break $1277 will resume the intraday bullish zone.
  • A daily close below $1266 today and tomorrow will result in $1217 and $1174.90 as short term target.

COMEX SILVER JULY 2016 – current price $1729.00

Bullish over $1749 with $1769 and $1800 as price target

Bearish below $1706 with $1691 and $1649 as price target

Neutral Zone between: $1706-$1749

  • Silver needs to trade over $1706 today to prevent a fall to $1661 and $1622
  • Only a consolidated break of $1769 will result in another wave of rise today.
  • One needs to remain on the sidelines today.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $50.05

Bullish over $48.70 with $50.70 and $52.10 as price target

Bearish below $47.40 with $46.20 and $44.90 as price target

  • Crude oil can rise to $52.20 as long as it trades over $48.70
  • Watch $50.10 all the time.

COMEX COPPER JULY 2016 – current price $211.10

Bullish over $208.20 with $212.90 and $218.60 as price target

Bearish below $202.20 with $200.70 and $198.60 as price target

Neutral Zone between: $202.20-$208.20

  • Key resistance is at $212.90. A break of $212.90 will result in $218 and $229.
  • A daily close over $212.90 today will be bullish for tomorrow.

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 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)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

Customer care: 9311139549

You can also mail your queries at ‘s

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: Wednesday, 22 June 2016 | 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 - 2018



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.