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Asian Metals Market Update: September-25-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 25 September 2017 | Print  | Disqus 

Fundamentally the US economy is strong enough to withstand an interest rate hike. Central banks stance of various economic matters like interest rates also tell us their currency stance. Currency market moves in the third quarter will be the key to precious metals and base metals. The third quarter of the year favored US dollar bears. If fundamentals dictate currency markets in the final quarter, the final quarter should belong to US dollar bulls.


German election results are the key for euro. Fundamentally only Germany is on a strong footing in the Eurozone. Germany and France are the only nations which gained by the creation of the Eurozone. The rest of the Eurozone nations have lost their economic potential and sovereignty by being in the Eurozone. The UK will stand to gain in the long term by being out of the Eurozone. Job creation will be more in the UK if it is out of the Eurozone. However there can be job sector churning in the UK if they are able to move out of the Eurozone. The people of Italy, Spain, Greece and most of the small Eurozone member nations want their leaders to leave the Eurozone and be independent. The political change is happening in every election as more and more so called right wing parties get greater representation in the parliament. The changes in the Eurozone political system will benefit gold in the long term.


Trump’s travel ban to Venezuela is insane. A first step towards capturing the massive oil reserves and mineral reserves which Venezuela has. There is no country after Venezuela on earth for the USA to attack. Asia has been converted to a landmine. A war in the South China sea with China will turn American forces into ashes any time. Black Africa is already under the control of the whites. Eastern Europe and most of the South American nations have bowed to the USA. The next media battle by America will be that of aliens coming to the nation. In the garb of protecting the earth from aliens American politicians will rule the world. The Hollywood block buster film “Independence day” will have a real life role reversal. Gold, rare earth, uranium, and other metals will be the biggest winners. Fresh water will be real gold and not the physical gold. The hyper rich should invest in land, real fresh water sources and also develop that land to ensure that fresh water does not get polluted.


COMEX GOLD DECEMBER 2017 – current price $1295.80

Bullish over $1298.90 with $1307.60 and $1313.90 as price target

Bearish below $1292.00 with $1284.90 and $1277.20 as price target.

Neutral Zone between: $1292.00-$1298.90

  • Key support is at $1289.70. There will be a sell off below $1289.70 to $1281.10 and $1264.60.
  • The price region between $1289.70 and $1298.90 is a bearish zone. But still chances of pullback rallies as long this price zone holds.

NYMEX CRUDE OIL (1ST CONTRACT)  - current price $50.35

Bullish over $49.80 with 51.40 and $53.20 as price target

Bearish below $49.20 with $48.40 and $47.60 as price target

  • There will be another wave of rise if crude oil manages to trade over $50.80 to $53.20 and $55.00.
  • Sellers will be there only below $49.80.

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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