-- Published: Friday, 10 November 2017 | Print | Disqus
The US dollar weakened and gold rose on suspicion that Trump’s tax cut proposal could see modifications. The next seven days is filled with market moving US economic data releases. The answer which investors will be looking for is what next after the expected December interest rate hike by the Federal Reserve. I am looking into global inflation/deflation targets for next year. Energy price trend will play a key role in inflation direction next year. The big challenge is to judge the pace of rise of crude oil prices and not the actual rise. At the moment the bottom for crude oil looks at $42 and top at $86+ in the next twelve months.
Developments in bitcoins and block chain technology are being closely watched. I am looking at the Federal Reserve and NATO adopting block chain, regulating them and even taxing them to ensure that they control the world by manipulating currencies. The USA is able to rule only because it was able to establish the US dollar as the world’s common means to trade and exchange. The USA will adopt block chain currencies and manipulate it so that it continues to rule the world.
COMEX GOLD DECEMBER 2017 – current price $1286.80
- Gold can rise to $1300.10 and $1308.60 as long as it trades over $1278.80.
- Sellers will be there below $1278.80.
MCX GOLD DECEMBER 2017 – previous day close Rs.29661
· Gold can rise to 29787 and 29914 as long as it trades over 29610.
· Sellers will be below 29610 to 29531 and 29429.
· A daily close over 29610 today will be very bullish for next week.
(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: Friday, 10 November 2017 | E-Mail | Print | Source: GoldSeek.com
