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Asian Metals Market Update: July-11-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 11 July 2017 | Print  | Disqus 

I am against selling gold, silver, copper and crude oil unless they fall below yesterday’s low. Once again there is not much economic data today. Physical demand in Asia and premiums will be the key to gold and silver prices today. A stronger demand along with firmer premiums will ensure that gold and silver rise today.

 

The focus of global investors is on crypto currencies. Quick returns and extreme volatility in crypto currencies has resulted in more and more traditional bullion investors and traders switching to bitcoin and other crypto currencies. Metals and energy prices are dictated by fundamentals. Crypto currencies are the newest investment toys for the financial world. Most of the people invest/trade in crypto currencies based on hype and they do not know how prices move. Nobody will complain as long as most make profits. Upside potential in crypto currencies is like calculating the distance to planet Jupiter. Once again crypto currencies are paper assets. There will be boom bust scenarios.

 

One needs to have a small percentage of investment in physical gold and silver or even platinum. Platinum under $1000 looks like a freebie to me. Those that intend to buy platinum jewelry, now is the right time. For the Indians, the gifting season has begun. One should buy platinum jewelry for the rakhee, karva chauth and others Hindu festivals in the next three months. My personal preference is for platinum jewelry over gold jewelry. Buying silver gifts for the upcoming festive season also looks attractive. Gold has not fallen by much. One can wait for some more time to buy pure gold jewelry.

 

Gold needs to trade over $1196 for the rest of the week to continue its bullish zone. Silver needs to trade over $1488 for the rest of the month to continue its bullish trend.

 

 

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

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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)

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

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 -- Published: Tuesday, 11 July 2017 | E-Mail  | Print  | Source: GoldSeek.com

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