-- Published: Tuesday, 28 November 2017 | Print | Disqus
Global investment community focus is on bitcoin and crypto currencies. Bitcoin and crypto currencies are a replacement to the existing global currency system and are not backed by fundamentals. The rise in price of bitcoin is similar to the gold price at $380 in 2003. There is lot more potential for the rise in crypto currencies. The difference between gold and bitcoin is that bitcoin does not have any underlying fundamentals whereas gold is a physical asset. Once again it is a paper war versus physical. Crypto currencies are paper and one can create unlimited paper. Crypto currencies can rise for the next five years. The equipment’s needed to generate crypto currencies need metal. Without metals these crypto currencies will not be generated. Metals are very bullish over the six year horizon. But for investments less six years crypto currencies can give the best returns in any investment class.
Bitcoin as a means of exchange is here to stay. Technology drives bitcoins and uses the global internet system. The USA controls the global internet system. Everything which we do on the internet is known or tapped by the American state mafia. If one thinks that bitcoins or crypto currencies and its trades are not known to the Americans, then you are dreaming. In my view crypto currencies are just a long term way to control the world by the American Zionist as they known that the US dollar is in a twilight zone. The alternate to the US dollar to ensure the American/NATO grip on the world is crypto currencies. A smart long term investor should use the current bitcoin/crypto currency hype to make maximum short term profits. Use the profits from bitcoin/crypto currencies to buy lots and lots of physical gold. Physical gold is money and there will never be any substitute for it.
Black Friday sales in the USA have beaten all street expectation. US housing numbers were on the higher side. The strong black Friday sales gives an early indication that an interest rate hike by the Federal Reserve next year will be on the higher side of the expectation curve.
COMEX GOLD DECEMBER 2017 – current price $1293.40
Bullish over $1297.60 with $1303.80 and $1308.10 as price target
Bearish below $1289.40 with $1283.30 and $1276.10 as price target.
- Gold can move $30 either side at current prices anytime depending on the ability/inability to break past $1304.
- I am against going long in gold unless it breaks and trades over $1300.
MCX GOLD FEBRUARY 2017 – previous day close Rs.29587
· Gold needs to trade over 29605 today to rise to 29688 and 29829.
· Key support is at 29512. Intraday Bearish trend will be there below 29512 to 29397 and 29274.
· Short term bearish trend will be there if and only if gold does not break 29996 by 8th December to 28764 and 28307.
(prices in Indian rupee 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: Tuesday, 28 November 2017 | E-Mail | Print | Source: GoldSeek.com
