Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

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

As Oil Plunges, Energy Junk Bonds Turn Dangerous — Again
By: John Rubino

$2.06 Crude Target Absurd but Useful
By: Rick Ackerman

Asian Metals Market Update: Nov 14 2018
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Hold Steady While Oil Slumps 7%
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 13 2018
By: Ira Epstein

Market Tactics For A Golden Smile
By: Stewart Thomson

A surprise jump in investor and central bank gold demand
By: Michael J. Kosares

The Failure of a Gold Refinery
By: Keith Weiner

Is Silence Golden?
By: Arkadiusz Sieron

Ten Points or Ten Miles to ‘Bridge Out’?
By: Andy Sutton and Graham Mehl


GoldSeek Web

Asian Metals Market Update: July-27-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Thursday, 27 July 2017 | Print  | Disqus 

Factors which can affect markets       


Short covering and renewed building of long positions will be there in gold and silver if they continue to rise today and tomorrow. If gold rises after the US July nonfarm payrolls (on 4th August) then I expect it to rise to $1508.10 before the end of this quarter. Short term gold and silver are bullish. Medium term to long term will trend after the US NFP will be the key.


Expectation that the pace of interest rate hikes will be slower than markets discounted resulted in a crash of US dollar and zoom of gold. Copper had already risen before the FOMC so the impact was not felt. Next in line is next week’s US July nonfarm payrolls. Interest rate chapter of the Federal Reserve is closed for now.  Technically a higher close today and tomorrow in gold, silver, copper and crude oil can result in another five percent gains by next week.


A stronger euro and yen will not be liked by European exporters and Japanese exporters as it gives Chinese goods and American goods an advantage over them in India and other nations where festive seasons will be there in September and October. Dushera on 30th September and Diwali on 19th October in India will result in higher import demand for goods from all over the world. The Dokalim border stand off with China will result in lower Chinese imports. Sellers of Chinese goods in India are cautious plus the social media campaigns to boycott Chinese goods (due to the border standoff) will reduce Chinese imports in the festive period. Imports will not fall in India. Other nations will get the benefit over Chinese goods. In short Europeans and Japanese will try all sorts of tricks to ensure that their currency does not zoom for the rest of the quarter. American manufacturers would like a weaker greenback. Gold and US dollar inverse correlation will be there for the rest of the quarter.




COMEX SILVER SEPTEMBER 2017 – current price $1669.00

Bullish over $1632 with $1686.50 and $1713.90 as price target

Bearish below $1621.50 with $1611 and $1582.50 as price target

Neutral Zone between: $1621.50-$1632

·        100% retracement is at $1686.50. There will be another wave of rise over $1686.50  to $1734 and $1771.70

·        Sellers will be there under any of the two conditions (a) Silver trades below $1649.00 (b) Silver does not break $1686.50 today.

·        Trend is bullish.

·        A daily close over $1649.20 today and tomorrow will be very bullish for silver in the short term.

COMEX COPPER SEPTEMBER 2017 – current price $288.30

Bullish over $281.20 with $290.30 -$297.80 as price target

Bearish below $277.80 with $271.10 and $268.40 as price target

Neutral Zone between: $277.80-$281.20

·        Key support is at $283.40. Copper needs to trade over $283.40 to rise to $293.90 and $299.10

·        Sell off only if copper under any of the two conditions (a) Copper trades  $283.40 today (b) Copper does not break $294.90 by tomorrow.

·        Month end factors can result in profit in long copper positions any time till tomorrow.

·        Momentum as well as technical are bullish.

MCX COPPER AUGUST 2017 – previous day close Rs.408.10

100% retracement is at 414.80. Only a break of 414.80 will trigger another wave of rise to 423.30. On the lower side key intraday support is at 404.40. Sellers will be there only below 404.40 to 398.90 and 392.40. Momentum as well as technical are bullish for copper.

(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, 27 July 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 - 2018 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, its affiliates or advertisers. 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, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.