-- Published: Thursday, 1 September 2016 | Print | Disqus
Summer in the northern hemisphere is over. Demand time in Asia is there for the next seventy days. In the next seventy days Asian demand will dictate the direction for next year. August’s fall in gold and silver aided by refocus of investor to US interest rates has resulted in a bullish outlook getting a mid year review. I believe that gold and silver will fight over the challenge of higher US interest rates and that the dip in prices over the next seventy days should be used to invest for the next four years. If you do not want to invest in gold and silver then buy lots of land in India as the real estate sector in India is on the verge of a massive bull run.
For the rest of the year as long as gold trades over $1230, the overall bullish trend is intact. Silver needs to trade over $1460 for the rest of the year to prevent it from moving into a long term bearish zone. With every fall, the risk to return ratio moves in favor of the long term silver investor. Those wanting to invest in gold for the long term should wait for some more time.
Movement will be two way. Trade carefully.
COMEX SILVER DECEMBER 2016 – current price $1879.30
Bullish over $1858 with $1909 and $1955 as price target
Bearish below $1825 with $1798 and $1745 as price target
Neutral Zone between: $1848-$1878
- Silver needs to trade over $1840 today to rise to $1910 and $1966.
- There will be a big crash only if silver trades over $1840.
- A daily close below $1840 today and tomorrow will be bearish for silver for the rest of the month.
INDIAN PHYSICAL SILVER PRICES SHORT TERM TREND – prices per kg below
Key physical silver support is at 43400. Silver needs to trade over 43400 for the next two months to rise to 47000 and 50100. There will be a technical break down below 43400 to 42200 and 39800. I prefer to use any 2000-2500 fall (if any) to invest for March 2017 with a price target of 54000. I do not foresee silver prices falling below 37000 (under the worst case scenario) in the current fiscal year ending 31st March 2017.
Indian silver demand should excess expectation. The only risk to Indian silver demand is a continuous rise in the prices of living essentials.
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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NOTES TO THE ABOVE REPORT
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-- Published: Thursday, 1 September 2016 | E-Mail | Print | Source: GoldSeek.com
