Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Exploration Update: Golden Arrow’s Pescado Project
By: Nicholas LePan, SilverSeek.com

GoldSeek Radio Nugget: Charles Hughes Smith and Chris Waltzek
By: radio.GoldSeek.com

Strap Yourself In - We Are About To See Some Big Moves In Metals
By: Avi Gilburt

Visit the Top Blockchain and Cryptocurrency Power Hubs of the World
By: Frank Holmes

Gold’s Upside Target
By: Przemyslaw Radomski, CFA

Dollar Crisis
By: Gary Savage

What Gold Needs to Do Now
By: Rick Ackerman

Year-end Rate Hike Once Again Proves To Be Launchpad For Gold Price
By: GoldCore

Asian Metals Market Update: December-14-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain About 1% and 2%
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Asian Metals Market Update: November-15-2016



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 15 November 2016 | Print  | Disqus 

I am against selling gold and silver unless they fall below yesterday’s low. Silver’s pathetic performance will ensure that more and more investors invest in gold and not in silver. Gold is still a safe call over silver. Physical gold premiums rise anytime and makes up (too a certain extent) the fall in spot prices. Obama advised Trump that it will be a different ball game once Trump moves to the White House. Speculation is that Trump is trying to get special security clearance from the CIA for certain family members. All kinds of confusing news are causing volatility in the markets. Some bankers say gold will fall below $1000 next year under Trump. Others say gold will rise. Even the banking and hedge fund community is divided over the direction of gold for next year.

 

I agree with Buffet. All election promises are never implemented. Some are just made to win the elections. If Trump succeeds in reviving the American manufacturing sectors and reducing illegal immigrants then gold will come under further medium term bearish direction. To me the Trump’s foreign policy will dictate investment demand in gold and silver. Trump’s foreign policy with (a) UK and European Union be the key. NATO and CIA have common interest of creating more and more wars. Everyone was made to believe that Obama will bring more peace globally. But the reverse happened as he created the Islamic state, bombed innocent humans in Yemen and Syria. (b) Relations with China in the South China Sea. Gold investment demand under Trump will be dependent on Trump’s foreign policy apart from interest rate and other factors.

 

A bit on the Demonetization in India

The scheme is applauded by everyone. Implementation issues are there. Honest tax payers will end up paying multiple times tax on their savings. How? I have a close friends father who retired a few years ago from a top notch managerial post in a private sector corporation. He does not believe in the credit card spending (but he has a credit card). He spends mostly in cash. His savings all his life has been very high due to a very simple life style. He always keeps Rs.6 lacs to Rs.7 lacs in cash in his house as contingency fund. (all this is from his savings after paying taxes). He is worried that after the initial limit of Rs.250,000, he will once again have to pay tax and penalty on the balance Rs.350,000. There will be multiple times taxation in his case. I believe there should provisions made in the income tax act to prevent such double taxation of honest tax payers.

 

Another case. A friend’s mother is 55 years old. In a typical Hindu Indian family, women receive cash gifts on occasion of various festivals such as Rakhee, Karva Chauth, Diwali etc. Such money received by the Hindu women used to be saved. Women also save from the monthly household money which is given to them. This savings is termed as “Pin Money” by tax authorities. The “Pin Money” savings is after deducting all kinds of taxes. There will be millions of women who have cash much more than Rs.250,000. Once again they will have to pay tax plus penalties.

 

Nationalism is fine. But I just hope honesty is not brutal.

 

Trading Strategy

Gold and silver are not out of the woods yet. They need a daily close over $1232 and $1737 to restart the short term bullish direction.

 

MCX GOLD DECEMBER 2016 – previous day close Rs.29607.

(a)  Key long term support is at 28986 (b) Intra day gold needs to trade over 29430 to rise to 29898 and 30208. There will be sellers only below 29430 to 29177 and 28986. (c) Gold needs to close over 29700 today to resume the bullish direction.

(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."

NOTES TO THE ABOVE REPORT

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)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

Customer care: 9311139549

You can also mail your queries at ‘s

Chat Id: mcxsuretips@gmail.com (gtalk), insigniaconsultants@yahoo.com (yahoo)

              (10:30 am to 5:30 pm Indian time, Monday to Friday)

 


| Digg This Article
 -- Published: Tuesday, 15 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.