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Asian Metals Market Update: January-29-2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 29 January 2018 | Print  | Disqus 

The FOMC meeting and US January nonfarm payrolls will be the key. The US economy will see a rise in consumer spending as bonuses rise due to Trump’s tax and trickle down effects. If the Federal Reserve is aggressive then we might just see a March interest rate hike. The US dollar is oversold. Any positive news can result in the US dollar paring most of January’s losses and even gain. Bubbles happen when all financial markets rise at the same time for a long period of time. There is a global asset bubble. The later the correction happens in global financial markets, the greater chances of sustained damage. Central banks and political systems of every nation want to prolong the current asset bubble. Interest rate manipulation will not work to pluck the next asset bubble. Inflation globally is on the rise. Liquidity manipulation by central banks will fail. The world is nearing a financial failed state situation. Physical gold is the only way to escape the upcoming looming threat.


A number of crypto currency exchanges have failed or have suffered the wrath of attackers this month. Gold in electronic form and gold investment in ETF could get treatment of hackers over the coming weeks and months. Nothing is safe when invested in electronic form. Who knows hackers could make away with your gold in ETF. As a part of a contingency plan, one should always invest in physical gold. A very small percentage of one’s savings should be invested in physical gold.


Physical demand will be the key to gold and silver prices. If there is no demand and/or very less demand today, then buyers will be waiting for more corrections and then go long. There can be five percent either side price swings in all metals and not just bullion.


COMEX SILVER MARCH 2018 – current price $1737.00

Bullish over $1747.00 with $1767.30and $1793.20 as price target

Bearish below $1732.80 with $1721.00 and $1694.80 as price target

Neutral Zone between: $1732.80-$1747.00

·         Silver can fall to $1694.80 and $1677.10 as long as it trades below $1751.30.

·         Rise will be there only if silver manages to trade over $1751.30.

MCX SILVER MARCH 2018 – previous day close Rs.39960

·         Silver can fall to 39071 and 38182 this week as long as it trades below 40208.

·         To be in bullish run silver needs to trade over 40208 for the whole week so that it can rise to 40849 and 41738.

·         Immediate support is at 39760. There will be a sell off below 39760.

(prices in Indian rupees above)


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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