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: October-17-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 17 October 2017 | Print  | Disqus 

Diwali greetings to all

The inability of gold and silver to trade over $1311 and $1750 is not a very positive sign in the short term. If by Friday gold and silver are unable to break and trade over $1311 and $1750 on a daily closing basis, then short sellers could dictate prices. Incoming US economic data releases suggest a firm and sustained US economy at least till the first quarter of next year.


In the short term gold and silver will always fall whenever focus shifts to economics. Gold and silver are in the short term just supported by continued geopolitical risk and demographic changes caused by geopolitical events. People’s movement, forced national boundary changes among other events take time to materialize. Corrections in gold and silver are a part and parcel of a long term bull rally.


Day traders and short term traders need to be very careful in metals and energies trade for the rest of the year. Prices will follow the zig-zag pattern. Short term traders can have a difficult time judging the trend and making their investment.


Last Diwali I had asked everyone to buy physical gold and silver for this Diwali. I am again asking everyone to buy physical gold and silver for next Diwali. No future, no options, no ETF, only physical gold and silver investment.


COMEX SILVER DECEMBER 2017 – current price $1723.60

Bullish over $1748.50 with $1767.50 and $1809.50 as price target

Bearish below $1728.80 with $1706.50 and $1688.70 as price target

·         Silver needs to trade over $1728 today to rise to $1748 and $1767.

·         Key support is at $1710.70.

MCX SILVER DECEMBER 2017 – previous day close Rs.40341.

  • Medium term resistance is at 41407. Silver has to break and trade over 41407 by the first week of November to rise to 46172.
  • In case silver does not break 41407 by the first week of November, then it will fall to 37785.
  • Today silver needs to trade over 40114 to rise to 40714 and 41407.
  • There will be a sell off only below 40114 to 39860 and 39269.

(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, 17 October 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.