-- Published: Wednesday, 5 July 2017 | Print | Disqus
Factors which can affect markets
The actions and words of Trump makes me believe that North Korea could soon face US military might. Chinese stance will be the key here. Geopolitical risks have had limited impact on positively affecting gold and silver. It remains to be seen if North Korea will give a new life to bullion bulls. Slew of US economic data releases are there till Friday. Physical demand of gold and silver in Asia will be the key. There will be a crash in the UK session and the early US session only if Asian demand does not occur and vice-versa.
One should use crashes (if any) in gold and silver to invest in them for the short term.
COMEX GOLD AUGUST 2017 – current price $1228.35
Bullish over $1223.10 with $1235.60 and $1244.70 as price target
Bearish below $1218.50 with $1211.10 and $1203.60 as price target.
Neutral Zone between: $1218.50-$1223.10
- Gold can rise to $1248-$1254 as long as it trades over $1218.50.
- Key support is at $1218.50. Another sell off will be there below $1218.50.
COMEX COPPER SEPTEMBER 2017 – current price $268.90
Bullish over $270.90 with $274.60 and $278.40 as price target
Bearish below $266.80 with $261.90 and $259.50 as price target
Neutral Zone between: $266.80-$270.90
- Key support is at $266.80. There will be another wave of sell off below $266.80 to $263.90 and $259.10
- Rise only if copper manages to trade over $270.90
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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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)
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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Wednesday, 5 July 2017 | E-Mail | Print | Source: GoldSeek.com
