Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Weekly Wrap-Up: Gold and Silver Gain Roughly 1% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 12 1 2017
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - December 15, 2017
By: GoldSeek.com

Gold Bullish on Fed Hike 2
By: Adam Hamilton, CPA

Europe, Brexit and the credit cycle
By: Alasdair Macleod

WGC: 2018 Set To Be A Positive Year For Price of Gold and Investors
By: GoldCore

GoldSeek Radio Nugget: John Embry and Chris Waltzek
By: radio.GoldSeek.com

Basing Phase Ending
By: Gary Savage

AlphaZero for President
By: George Smith

Ira Epstein's Metals Video 12 14 2017
By: Ira Epstein

 
Search

GoldSeek Web

 
Asian Metals Market Update: November-17-2017



By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 17 November 2017 | Print  | Disqus 

Gold and silver are steady on increasing chances of the passage of the US tax cut bill. Resurgence in bitcoins and other crypto currencies is preventing investment interest in bullion. Short term hot money has moved to cryptos from bullion. The price moves in gold and silver are mainly dependent on physical demand and physical premiums in Asia.

 

In India I see more and more retail trading volumes in Industrial metals than gold and silver. This year’s rise in industrial metals has attracted brokers, retail traders and everyone alike. Aluminum was untouchable a few years ago and has attracted good trading volumes. Nickel’s recent breakout has also resulted more numbers of daily traders. Some of the head core silver traders have moved to industrial metals as it gives more profits than silver. A word of caution to industrial metal traders. The rise in industrial metals has been mainly on expectation that the global switch to electric vehicles can result in a long term shortage. But in my view traditional auto makers are making their vehicles more fuel efficient buy making engines from Aluminum instead of cast iron. The global switch to electric transport may not happen overnight. A sharp correction in industrial metals can happen anytime. Nickel has seen a very sharp correction over the past seven days. Other industrial metals could follow Nickel soon.

 

Traders will start taking positions for the first week of December from now. Geopolitical risk and political instability in the UK and some Eastern European nations can cause furor. Economic data releases from anywhere in the world will affect markets if and only if they indicate a slow down next year.

 

COMEX COPPER DECEMBER 2017 – current price $305.70.

Bullish over $305.00 with $309.90 and $313.30 as price target

Bearish below $303.60 with $301.10 and $296.10 as price target

  • Copper needs to trade over $301.10 till Monday to rise to $319.
  • Sellers will be there below $301.10.

MCX COPPER NOVEMBER 2017 – previous day close Rs.439.30

·         Fifty day moving average around 440.50 is the key price to watch.

·         Key support is at 437.30. Key resistance is at 446.40.

·         Copper can rise to 446.40 and 451.10 as long as it trades over 437.30

·         Technical break down will be below 437.30 to 433.60 and 428.40.

(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."

NOTES TO THE ABOVE REPORT

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)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

Customer care/Whatsapp/Telegram: 9311139549

You can also mail your queries at ‘s

Chat Id: mcxsuretips@gmail.com (gtalk), insigniaconsultants@yahoo.com (yahoo)

              (10:30 am to 5:30 pm Indian time, Monday to Friday)

 


| Digg This Article
 -- Published: Friday, 17 November 2017 | E-Mail  | Print  | Source: GoldSeek.com

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
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.