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 Closing Report: Gold and Silver Gain Roughly 2% After Fed
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 3 21 2018
By: Ira Epstein

SSR Mining begins drilling at Eagles Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

JPMorgan's Domination of COMEX Silver
By: Craig Hemke

Can Central Banks Manage the Deflation of an Everything Bubble?
By: Graham Summers

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell

Why the World’s Central Banks hold Gold – In their Own Words
By: Ronan Manly

WATCH OUT BELOW: Dow Jones Index Next Stop… 19,000
By: Steve St. Angelo

Additional Signs for PMs Amid Increasing FOMC Tension
By: Przemyslaw Radomski, CFA

Credit Concerns In U.S. Growing As LIBOR OIS Surges to 2009 High
By: GoldCore


GoldSeek Web

Asian Metals Market Update: August 2-2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 2 August 2016 | Print  | Disqus 

Momentum is hyper bullish for gold and silver. Everyone is buying gold and silver on dips. US GDP numbers on Friday has only added fuel to the bullish investor sentiment of gold and silver. Europe, Japan and now even the USA is getting plagued by mentally ill people who act as terrorist and kill innocents every day. These mentally ill people are called by the name of Islamic State and other names. The political class in India has divided India into religion, caste, creed etc. European politicians have now started taking lessons from their Indian counter parts and have started dividing Europe on the basis of religion, race etc. Apart from financial market changes by central banks there are more long term and medium term bullish factors for gold and silver than ever before.


France is thinking of stopping foreign funding of mosques. There will be opposition to such moves by Germany and other European Union members, but it is a step in the right direction. Even in India for the first time the Modi government is trying to make public the foreign funding of religious institutions. Non Islamic nations now need to impose strict restrictions on foreign funding of religious institutions to prevent nations from moving into a long term civil war. There are enough early warning signals which gives us a view that America and Europe is moving towards a civil war. Gold and other non-paper based safe havens will continue to attract investor demand.


Either gold and silver rise and break past $1371 and $2112 or else they will fall to $1317/$1284 and $1993/$1919 zones first and then rise. The next three days till Thursday is very crucial. I do not think US July nonfarm payrolls will have a big impact as there should be big one way moves by Thursday. Sentiment for the US dollar is also very negative.


COMEX DECEMBER 2016 – current price $1354.90

Bullish over $1343.60 with $1371.10 and $1391.10 as price target

Bearish below $1332.10 with $1325.90 and $1317.60 as price target.

Neutral Zone between 1332.10-$1343.10

  • Either gold breaks $1371 today or else it will fall to $1327 and $1311 first.
  • Initial support is at $1347. There will be sellers only if gold trades below $1347 either in the UK session or the US session.
  • Remain on the sidelines despite the bullish momentum.

MCX GOLD OCTOBER – previous day close Rs.31562

Short term resistance is at 32013. Only a break of 32013 will result in another wave of rise to 32768 and 33335. Initial support is at 31133 with 30620 as key support. I prefer to remain on the sidelines today and buy gold only if it trades over 31768 today.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $40.19

Bullish over $42.00 with $44.40 and $45.80 as price target

Bearish below $40.40 with $39.90 and $38.60 as price target

  • Crude oil will see another wave of sell off if it trades below $39.60 to $38.10 and $36.60.
  • Short covering will be there only if crude oil trades over $42.00.

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, 2 August 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.