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Asian Metals Market Update: January-30-2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 30 January 2018 | Print  | Disqus 

Deutsche Bank and its associate group, UBS, HSBC etc have been fined by the CFTC for gold price manipulation. I am sure silver prices are being manipulated by a group of banks and hedge funds. Silver is undervalued. Long term industrial uses of silver will exceed production. Those who had invested in physical silver have lost all hope that silver prices can rise. Some of the silver investors are treating silver investment as a bad debt. If you ask anyone to invest in silver, they will shake their head. Over the next three years I see a downside risk of thirty percent (from current prices) under the worst case scenario and a hundred twenty percent (120%) upside chance. If you are prepared to see a thirty percent devaluation on your silver investment, then start investing now.


Hedge funds are selling silver futures to suppress prices and at the same time they are gobbling up physical silver. They are not idiots. Hedge funds never invest for a period of one year or two years. They are marathon investors. It is time to be a marathon investor in physical silver. Why not start investing in physical silver in small amounts every month.


A bond market sell off globally can result in a fall in gold prices initially but overall it is bullish for gold prices. The number of investors in gold ETF should rise. Some of the bond market investors could switch to gold. Correction (if any) up to $1267.20 are a part and parcel of this year’s gold bullish trend. Right now gold needs to rise another $40 in the next seven days to start its journey to the stratosphere. In case gold does not rise $40, then chances of a $80 fall (from current price of $1338.70) will be very high.


Zinc was the best performer yesterday. I expect Nickel prices to double in the next twelve months. Nickel, like silver is highly undervalued based on upcoming industrial demand forecast. Zinc and Nickel if they rise today and tomorrow will see massive short covering and renewed investment interest. Pre Chinese New Year moves will start affecting industrial metals from next week.


COMEX COPPER MARCH 2018 – current price $320.90

Bullish over $321.20 with $325.60 and $331.30 as price target

Bearish below $318.30 with $312.40 and $309.50 as price target

  • Copper needs to trade over $318 to rise to $327.40 and $331.50.
  • Sell off will be there only below $318.
  • Copper will crash if it trades below $318.00.

MCX ZINC FEBRUARY 2018 – previous day close Rs.227.65

  • Immediate resistance is at 228.90 with 230.60 as key resistance.
  • Zinc can rise to 233.60 and 236.10 if it manages to break and trade over 228.90 today.
  • Initial support is at 227.30. Sellers will be there below 227.30 to 224.50 and 221.10.
  • Momentum is very bullish for zinc. Look for signs of trend reversal.

(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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