-- Published: Tuesday, 26 September 2017 | Print | Disqus
North Korea comes to the rescue of gold and silver bulls. Germany’s election result and Japan’s snap election calls are also supporting gold. A war with North Korea can result in gold and silver rising twenty percent over the next few months. I am serious and not joking. Gold prices will fall whenever markets ignore North Korean risk. Sentiment is hyper bullish for gold. Gold demand is everywhere be it ETF, jewelry or physical investment.
Traders are still assessing the results of the German elections and its spillover impact on other Eurozone nations. Venezuelan trade sanctions will be bullish for crude oil but bearish for emerging market stock markets and currencies. My experience is that crude oil prices have mostly zoomed whenever the USA has been under republican rule. If history repeats itself then crude oil prices may have formed a long-term bottom. Trump could also be creating deliberate disturbances in Venezuela to support the US shale gas industry. Higher crude oil prices benefit more to US shale producers than anyone else in the world.
COMEX SILVER DECEMBER 2017 – current price $1722.10
Bullish over $1708.10 with $1738.90 and $1779.40 as price target
Bearish below $1686.20 with $1667.90 and $1648.20 as price target
· Key resistance is at $1738.90. There will be a technical breakout over $1738.90 to $1779.40 and $1808.10.
· Sellers will be there only if silver trades below $1708.
MCX SILVER DECEMBER 2017 – previous day close Rs.40276
- Silver can rise to 40681 and 40973 as long as it trades over 39983.
- Sellers will be there only if silver trades below 39983 to 39787 and 39471.
(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.
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 26 September 2017 | E-Mail | Print | Source: GoldSeek.com
