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Asian Metals Market Update: March-13-2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 13 March 2018 | Print  | Disqus 

It seems there are buyers on dips in gold and silver as focus is on global trade wars. The US dollar has not gained significantly despite robust job creation. Today’s USA session is very crucial for gold and silver and the US dollar. There can be three percent either side move anytime. Today’s close will set up the trend till the FOMC meet next week.


Physical buyers as well as gold and silver investors are absent as they expect further price falls. Aggressive investment demand and high physical demand along with a rise in premiums will be there on any indication of gold rising to $1400. High volatility in stock markets is good for bullion investment demand. There are very low risk investors everywhere. These investors will ensure that gold prices consolidate (in a wider price band) till gold does not break past $1400. I will prefer to use sharp dips to invest in gold and silver. My current year bullish view is based on four interest rate hikes by the Federal Reserve. Anything less than four can result in the gold price easily breaking past $1400.


Risk to return ration is in favor of the investor for silver. I am bullish on silver due to its diverse uses. Silver is the best cleaner in this polluting world. Every human being on earth uses silver directly or indirectly. Net short positions in silver is at historical high. (I can write unlimited pages on current silver demand and future new age technological demand in silver. I have been fascinated by silver due to its diverse use. I personally intend to use the current silver price and further price falls (if any) to invest in physical silver.)


COMEX SILVER MAY 2018 – current price $1656.50

Bullish over $1639.20 with $1689.00 and $1707.00 as price target

Bearish below $1625.80 with $1617.30 and $1604.30 as price target

·         Silver can rise to $1689 as long as it trades over $1629.

·         Sellers will be there below $1629.

MCX LEAD MARCH 2018 – previous day close Rs.152.00

  • Key support is at 150.90. Lead needs to trade over 150.90 to rise to 156.30 and 159.70.
  • Sellers will be there below 150.90 to 146.90.
  • Crash will be there below 146.90 for the rest of the month.

(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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