LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

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

COT Gold, Silver and US Dollar Index Report - August 23, 2019

Gold Mid-Tiers’ Q2’19 Fundamentals
By: Adam Hamilton, Zeal Research

Trump Floats Payroll & Capital Gains Tax Cues to Forestall Recession
By: Mike Gleason

How’s That Recession Coming, Dave?
By: David Haggith

Precious Metals Update Video: Jackson Hole Powell's Speech in focus today, Gold bias is up
By: Ira Epstein

Seven Key Words That Explain "Stupidly High" Prices
By: Daniel R. Amerman

Gold, Silver, Mining Stocks: Get Ready For A Huge Ride Higher
By: Dave Kranzler

On The Job Training
By: Ted Butler

Precious Metals Update Video: FOMC minutes: What's going on?
By: Ira Epstein

Economist Lays Out the Next Step to Wonderland for the Fed
By: Gary Tanashian


GoldSeek Web

Asian Metals Market Update: November-10-2016

By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 10 November 2016 | Print  | Disqus 

The elected US President is against the zero interest rates policy which the Federal Reserve is following. Depending on how many new jobs start getting created, the Federal Reserve could start a quicker pace of interest rate hike than currently discounted. However a certain section of the market now believes that an interest rate hike in December will be delayed and will be left to Trump’s team to take the call. Gold can fall first and then rise. Gold could also consolidate in wider $1166-$1321-$1447 range till January of next year.


A lot traders were scared of yesterday’s volatility and did not trade. The best way to trade is to have key technical support and resistances. For example yesterday morning when gold started rising on chances of Trump’s win, I gave a long call as long as key resistance of $1307 was breached. Closed the position at $1323. Thereafter when gold started falling from the day’s high of $1338, I gave a short call in gold as soon as it neared $1323 (earlier resistance now becomes the support) and close the position at $1307. In the US session tomorrow, once again a new short call in gold was advised as soon as gold breached the support at $1297 and position was closed at $1285. All I am trying to say is that one needs to have key technical supports and resistances in hand. Days like yesterday are very rare and need to be capitalized. But without proper preparation everything can go haywire.


Donald Trump will spend on infrastructure. He sees current American infrastructure inadequate of meeting future needs. His focus is also on reviving the American manufacturing industry. Steel, Copper and other industrial metals should be the beneficiary in the long term. Energies and Energy companies have always risen under the republican rule. Silver will get the benefit of rise in industrial metals. Under valuation is the right word for silver right now.


Right wing political groups in Europe and all over the world will now get motivated to work even harder to get a stronger voter mandate. Europe has a lot of elections next year. The current European leaders have just echoed Obama. Now they will take evasive measures to prevent power eviction. Gold and other safe havens will get benefit in the transition period between now and election periods in key European nations.


Trump is a billionaire businessman. He knows the needs to American industry top to down. He can meet the needs of American industry. Foreign policy changes are something which the world will be closely watching. Any nation’s foreign policy cannot be changed overnight. The world will be closely watching Trump’s foreign policy moves.


COMEX GOLD DECEMBER 2016 – current price $1287.50

Bullish over $1290.20 with $1306.40 and $1318.70 as price target

Bearish below $1282.10 with $1274.60 and $1261.90 as price target.

Neutral Zone between: $1282.20-$1290.20

  • Gold needs to trade over $1282 to rise to $1307 and $1323
  • There will be another wave of sell off only if gold trades below $1282.
  • Remain on the sidelines.
  • Jobbers watch $1290 all the time.

MCX GOLD DECEMBER 2016 – previous day close Rs.29877

Gold needs to trade over 29628 till tomorrow to rise to 30284 and 30922. There will be a big crash if gold trades below 29628 or in case gold does not break 30284 today. I prefer to buy gold only if gold trades over 30056 stop loss 29947 for 30284 and 30419. (A daily close below 29740 today and tomorrow will be technically bearish for next week).

(prices in Indian Rupees above).

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: Thursday, 10 November 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.