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 to Launch New Website

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Asian Metals Market Update: June-22-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 22 June 2017 | Print  | Disqus 

Factors which can affect markets        


I will once take a close look at the Syrian conflict. NATO has recently shot down a Syrian fighter jet and an Iranian drone. These will only escalate tensions between NATO and Russian allies. Syrian forces are gaining ground despite NATO sending its own terrorists. The deterioration of relations between European Union and Turkey will also have an impact on the whole of Middle East and North Africa region. Germany is forced to shift its airbase in Turkey. An anti EU turkey will only escalate the tensions in and around the Persian Gulf and Red Sea zone. Gold demand in Eastern Europe could zoom as a result.


Technically the correction in gold, silver and copper is over. Gold can rise to $1296 as long as it trades over $1227-$1237  zone. Silver needs to trade over $1609 till early August to continue its medium term bullish zone. Copper can rise to $296-$312 zone by end August as long as it trades over $242-$247 zone. Crude oil should form a long term bottom anytime between now and 4th July.


Monday most of the world markets will be closed or indirectly closed due to “Eid” or end of Ramzan. Traders will start taking positions for Tuesday.


COMEX GOLD AUGUST 2017 – current price $1254.50

Bullish over $1244.10 with $1258.10 and $1268.70 as price target

Bearish below $1240.10 with $1227.60 and $1223.40 as price target.

Neutral Zone between: $1240.10-$1244.10

·        Gold may have formed a short term bottom and can rise to $1263.40 and $1272.80 as long as it trades over $1247.30.

·        Sellers will be there only below $1247.30 today.

·        Jobbers watch $1253 all the time.

·        Gold needs a daily close over $1253 today and tomorrow to continue its bullish zone next week.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $42.60

Bullish over $42.20 with 43.80 and $45.10 as price target

Bearish below $41.10 with $40.80 and $39.60 as price target

Jobbers buy: Buy at $41.10 stop loss $39.70 for $47.00 for tomorrow.

Jobbers sell: sell if crude oil trades below $43.00 stop loss $44.20 for $42.20 and $41.10.

·        Support is between $41.10-$42.20. Crude oil needs to trade over this zone to rise to $45.00 and $47.00.

·        Initial support is at $42.20. Sell off only below $42.20 today.

·        Oversold. Looks for signs of short covering.

MCX CRUDE OIL JULY – previous day close Rs.2741

·        Key support is between 2673-2722 zone. Momentum is bearish for crude oil.

·        There can be pull back rallies to 2819 and 2958 as long as crude oil trades over 2673-2722 zone.

·        Short sellers need to trade very carefully as long as crude oil does not fall below 2673-2722 zone.

·        Oversold. Short covering/profit booking can happen before tomorrow.

(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 1:00 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)




Customer care/Whatsapp/Telegram: 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, 22 June 2017 | 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.