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Asian Metals Market Update: October-27-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 27 October 2017 | Print  | Disqus 

European central bank chief taper comments and Spain let down the euro. Technical picture is bearish for gold and silver. Reuters survey says that most of the analysts have reduced their gold and silver forecast for next year. I am not changing my bullish views on gold and silver for next year. This year gold and silver are mainly supported by geopolitical risk. Next year I expect the South China Sea and Korean peninsula to turn into the Persian Gulf. Even if Asian demand falters next year, European demand for gold will lend support to prices. The Middle East did not turn into a war zone overnight. Events in the South China sea will move towards bad and worse. Americans will try for a regime change in the Philippines. Duterte could be removed by the American as he bents more towards the Russian and Chinese. Most of the gold bears believe that a higher global interest rate cycle will prevent gold and silver prices from a rise. The pace of rise of global interest rates will be slow next year which should cause gold bears to retreat. Trump policies will be to placate Americans before US Senate elections in around a years’ time. America people are war mongers. Wars wins elections in the current global democratic system. America will fight more wars next year than this year. Fundamentally also, global debt is at a historical high. This global debt bubble can burst anytime.


Tillerson says there will be a regime change in Syria and that Assad has to go. Same old words being repeated. Syria is a war between Russia and America. Assad has also been getting aid from China. If America plays its game in the South China Sea then Russia-China will thwart American interest in the Middle east and North Africa zone. Gold investment demand will only rise. Asia is a war zone between NATO versus Russia-China. Even in Indian sub-continent friends are reversing. US it seems is now a better than to India. Russia is make friendship with Pakistan to take advantage of Chinese “One belt one road: (OBOR). Chinese will never start a war in Kashmir as its OBOR will be affected. War between India and China is bound to happen but in all regions except Kashmir.


COMEX SILVER DECEMBER 2017 – current price $1677.70

Bullish over $1700.0 with $1729.70 and $1751.70 as price target

Bearish below $1693.30 with $1663 and $1650.30 as price target

Neutral Zone between: $1693.30-$1700.00

·         Silver will see another wave of sell off below $1671 to $1650.30 and $1641.30.

·         A daily close below $1700 today will be bearish for next week.

MCX NICKEL OCTOBER 2017 – previous day close Rs.762.70.

·         Nickel can fall to 743.80 and 726.60 as long as it trades below 769.30.

·         Buyers trade very carefully as long as Nickel does not break 795.60 till 31st October.

·         I am against short term investment as long as Nickel does not break 795.60.

(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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