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Asian Metals Market Update: December-27-2017

By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 27 December 2017 | Print  | Disqus 

Higher crude oil prices will become a headache for emerging markets currencies and bonds. I am of the view that the lower base prices for nymex crude oil will be at $60 (for 2018) with chances of $86 by July 2018 a very high possibility. Worst case downside risk for crude oil at the moment is at $48 for next year with upside at infinity. Gold always rises in an inflationary environment. Crude oil related inflation can derail fiscal management in Asian nations (including India and Indonesia) with chances of bond market outflows. Interest rate gap will narrow between Asian nations and Eurozone, UK and USA. Narrowing down of interest rate gap can result in massive bond market outflows from some Asian nations, Nations with low foreign exchange reserves could be bear the brunt of indirect currency devaluation.


Every rising investment in crypto currencies will not have any impact on gold and silver prices next year. Equity markets and bond market investment flows will suffer. The message is very clear, investors prefer high risk and high return investment. Investors are very short sighted. Investors are undeterred by small losses in highly volatile investment class.


COMEX SILVER MARCH 2018 – current price $1657.00

Bullish over $1622.60 with $1666.10-$1687.90 and $1721.10 as price target

Bearish below $1605 with $1593 and $1577.10 as price target

Neutral Zone between: $1605.00-$1622.60

·        Silver needs to break and trade over $1670 for sell stop losses to be triggered and another wave of rise to $1705 and $1736.

·        On the lower side sellers will be there only if silver trades below $1637 after UK opens.

COMEX COPPER MARCH 2018 – current price $326.00

Bullish over $318.00 with $330.80 and $339.20 as price target

Bearish below $313.20 with $309.90 and $306.10 as price target

·        Copper can rise to $339.10 this week as long as it trades over $316.90.

·        Trend is bullish.

·        Sellers will be there only if copper does not break $331 today or copper falls below $322.90.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto 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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