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: August-8-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 8 August 2017 | Print  | Disqus 

The real democratic side of USA is revealed as its senators have made mockery of the elected president by making Trump not able to do anything. Trump has been trying to make the world a peaceful place to live. American politicians bank on war to make a fortune. Investors know that USA is now a leaderless nation. This is the key reason why the US dollar has not gained despite a good US monthly employment numbers. Politically Eurozone is much stable than USA. American policies in Eastern Europe and its bias towards filling Europe with Islamic migrants will only increase physical demand for gold from the region.


American companies are a loss in Russia. All the global trade laws have been flouted while imposing trade sanctions on Russia and other nations. Thankfully Russia also has a land border with China. China believes that USA should not interfere in South China Sea. Russia and China have a common enemy in the form of NATO. The barter trade between Russia and China will alienate American trade sanctions on Russia. The fall out is that both Russia and China have been continuously increasing their gold reserves and also diversifying their reserves.


One needs to watch for political news as it could bring sudden moves. Day traders and jobbers should trade in the technical and not worry too much. Low risk day traders should not leave any open position for next day. Better to be fence sitter today.


COMEX GOLD DECEMBER 2017 – current price $1265.80

Bullish over $1258.10 with $1273.10 and $1288.40 as price target

Bearish below $1254.10 with $1250.40 and  $1243.20 as price target.

Neutral Zone between: $1254.10-$1258.10

·        Gold managed to trade over $1258 yesterday and can rise to $1273.10 and  $1288.40 if it manages to trade over $1258.

·        Sell off only if gold does not break $1273.10 or gold falls below $1258.10

·        A daily close below $1268 today will be very bullish for the rest of the week.

MCX GOLD OCTOBER – previous day close Rs.28457

Key intraday support is at 28346. Key intraday resistance is at 28515. Trend is neutral. (a) Sell off will be there only if gold does not break and trade over 28515 or gold falls below 28346 (b) A break of 28515 will result in 28610 and 28831.

(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: Tuesday, 8 August 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.