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Asian Metals Market Update: July 5, 2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 5 July 2016 | Print  | Disqus 

There can be profit booking before the US jobs numbers on Thursday and Friday. Nothing extra ordinary has happened over the weekend. No new political developments or surprises can be an excuse for gold and silver to see a correction. The next ten trading sessions is very crucial for gold and silver. They need to break and trade over $1360 and $2152 for another five percent rise before the end of July. Momentum is bullish for gold and silver. But I will prefer cautious optimism in gold. However I will still prefer to use sharp declines to invest in silver. Silver is still undervalued as compared to its precious metals counterparts.


This is the first time that the world has experienced Islamic terror strikes in the holy month of Ramadan. Generally the world peace is at its highest in Ramadan. Safe haven demand whether for the US dollar or precious metals will be there. There should now be a big jump in physical gold and silver demand all over Asia and Europe. Tiny gold and silver retail demand should far outstrip HNI (high net worth individuals) demand. Gold and silver discounts should move into premium as the month progresses.


I am focused on demographic change made due to Islamisation, shariaisation, isiszation of Europe, Europe, Australia and other large white Christian nation of the world. Influx of mainly Islamic migrants will cause long term demographic changes in these regions. Some of the changes which I believe will happen or is happening is (1) Brittle law and order situation: Other than Saudi Arabia, I do not see any nation with large Islamic population not having law and order problems. Bangladesh (rapid killing of Hindu minorities and forced conversion of Hindu minorities etc), Egypt (public unrest threats and bomb threats loom at large, Turkey (under control of Erdogen family is not safe as Airports gets attacked). (2) Use of more black money or unaccounted money: Migrants do not pay any taxes even if they properly employed. They prefer to use cash. The current residents are law abiding tax payers. The experience all of the world with migrants is that they are prone not to pay taxes and accumulation of black money is there wherever there are too money migrants. This black money can be used for anti-national purpose. In India, Bangladeshi migrants with their blackmoney do all kinds of anti national work. Further African migrants are caught with Drugs every now and then in Delhi. These are happening in India and will be passed onto Europe as well. (3) Recently I had heard that a centuries old brewery was asked to close down by migrants in Holland, as they imposed a Sharia zone. The Dutch police were helpless. There will more and more sharia cities all over the world. Demand and consumption pattern will change in Europe and other parts of the world.


History tells us that migrants have changed the lanadsacape of the region and also caused rapid changes in every aspect of the economy. In India, muslim and Christian migrants destroyed cities, changed the name of the cities and also have a big effect on the cuisine, the dress code, etc. Europe, Australia and even to a certain extent America will be affected by migrants.



COMEX AUGUST 2016 – current price $1347.00

Bullish over $1360.60 with $1371.90-$1395.40 as price target

Bearish below $1347.10 with $1337-$1327 and $1307.80 as price target.

Neutral Zone between $1347.10 and $1360.60

  • Gold needs to fall below $1321 or break and trade over $1361 for direction.
  • Initial support is at $1337 with $1321 as the key support.
  • A daily over $1350 today will be very bullish for tomorrow.

MCX GOLD AUGUST – previous day close Rs.31783

Gold needs to trade over Rs.31839 for the whole day to continue its bullish trend and rise to Rs.32072 and Rs.32416. Initial support is at Rs.31436. Till Monday either gold breaks Rs.32416 or else it will breakdown to Rs.30973 and below.

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.

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