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Asian Metals Market Update: February-9-2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Friday, 9 February 2018 | Print  | Disqus 

The current volatility in global stock markets should pitch for a very strong case of the need to invest in physical gold to everyone. Gold is the only safe haven. The rest of them can be junk. Once again the debate between paper investment and safe havens. Gold as a safe haven is intended to safe guard against current global investment shocks. Selected stock investment will no doubt give much better returns than gold in the medium term as well as long term. Instant liquidity or instant cash along with safe haven is something which only gold has to offer and no other investment.


There is speculation that crypto currencies will be zero and will be seized by the state. I do not think this will ever happen. I have a cousin of mine who had invested in bitcoin at around $10,000 and did not book profit in December. I have advised him to keep on averaging in small amounts. Since it is not futures, there will be no margin pressure. (Please note that Insignia consultants so far has not invested in bitcoin or crypto currency). Instead of frittering away the money to buy an IphoneX it is better to invest in crypto currency and take a chance at current prices. These days the youth in India are more inclined to maintain their social status at the cost of being in debt. Investing in crypto currencies is better than being in debt.


In India, so far the government has not outlawed investing in crypto currencies. You just have to pay capital gain taxes and also you cannot offset losses in crypto currencies against capital gain from other forms of investment. We just might see a direct correlation between crypto currencies and gold in the long term.


COMEX GOLD APRIL 2018 – current price $1319.60

Bullish over $1313.80 with $1325.50-$1333.30 as price target.

Bearish below $1308.60 with $1303.90-$1299.10 and $1292.20 as price target.

Neutral Zone between: $1308.60 and $1313.80.

  • Gold needs to trade over $1308 till Monday to rise to $1333 and $1342.
  • Crash will be there only below $1308.
  • Remain on the sidelines.

COMEX COPPER MARCH 2018 – current price $306.70

Bullish over $309.50 with $312.80 and $318.00 as price target.

Bearish below $307.20 with $303.70-$301.20 and $297.10 as price target.

Neutral Zone between: $307.20-$309.50.

  • Crash point is at $303.70. Copper will see another wave of sell off below $303.70.
  • Trend is down. Rise will be there only if copper trades over $309.50 after London opens.


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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