Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

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

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain on the Week While Stocks Drop 6%
By: Chris Mullen, Gold Seeker Report

Gold and Silver Possession Is a Constitutional Right - and a Practical Imperative
By: David Smith

Will Gold Breakout? 3 Things to Watch
By: Jordan Roy-Byrne CMT, MFTA

COT Gold, Silver and US Dollar Index Report - March 23, 2018

Hidden No More, The Currency Wars Take Center Stage
By: Nathan McDonald

Trading Barbs Down To The Wire
By: Brady Willett

Gold Juniors’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek

Markets Have Gone “Thelma and Louise”
By: Gary Christenson

Debt Cycles and Gold
By: Arkadiusz Sieron


GoldSeek Web

Asian Metals Market Update: June-29-2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 29 June 2016 | Print  | Disqus 

The Istanbul airport attack will increase safe haven demand for gold. Europe is like the New Delhi of the mid-eighties/early nineties wherein everyday there was some form of terror threats. In New Delhi thanks to law enforcement agencies the chances of a terror strike are more or less zero but fears remain. Europe is like New Delhi. Unlike Indians who are used to terror threats, Europeans have something extra ordinary to deal with. Gold demand in Europe will zoom.


Just focus on technicals for now. There is a lot of concern that a fall in the UK affects others. Financial services employment and growth (apart from medical services) are the largest contributors to UK GDP. Sooner than later machines will conquer the financial services world. Further other nations want to grab a share of UK financial services. UK’s slowdown in growth can be made over by some other nations higher growth rates. There is very little risk to a sustained global slowdown due to the UK. Other factors will cause a slowdown in global growth and not just the UK alone. However uncertainty draws people to safe havens. The current global uncertainty has a very high evaporation point and will not vanish quickly.


Gold is either in a consolidation phase around $1300 for another big rise or there are chances of a mild inverted head and shoulder formation on the technical charts. Silver is looking bullish at the moment.


MCX SILVER SEPTEMBER – (previous day close Rs.43190)

Initial resistance is at Rs.43512. A break of 43512 will result in Rs.44812 and Rs.45530. Silver can rise to 44812+ as long as it trades over 42606. Big crash only below 42606.

COMEX SILVER JULY 2016 – current price $1808.00

Bullish over $1773 with $1823 and $1882 as price target

Bearish below $1749 with $1730-$1707 and $1672 as price target

Neutral Zone between: $1749-$1773

  • There will be short covering if silver manages to trade over $1790 today to $1860 and $1905
  • Initial support is at $1770 and as long as silver trades over $1770 downside risk will be limited.
  • Trade very carefully between $1855 and $1885 zone.

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: Wednesday, 29 June 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 - 2017 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, its affiliates or advertisers. 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, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.