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Asian Metals Market Update: June 19 2018



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 19 June 2018 | Print  | Disqus 

Economics & Trump trade wars

 

Ultimately gold has to rise. Corrections should be used to invest for the medium term to long term. Trump proposes to slap another $200 billion import tariff on Chinese goods. The real motive behind the imposition of tariffs on Chinese goods is to prevent China catching up with the USA on technology. Chinese companies are investing in new technologies to try and catch up with the USA in the long term. If Apple stops buying parts from China, its cost will zoom. Somewhere down the line, the experience from manufacturing Iphone parts will in the long term help advancement of homegrown Chinese technology. Ask yourself where is the USA without technology superiority? Gold in the long term has to rise. In the short term, there can be very sharp corrections if fundamentals continue to remain weak.

 

Some stocks will fall while for others there can be a windfall as a result of the Trump trade rift with China and the world. One needs to reallocate the portfolio as a result of the Trump trade war. Scary traders and investors are sitting on cash, till a very clear picture emerges.

 

COMEX SILVER JULY 2018 – current price $1654.00

Bullish over $1642.00 with $1684.00 and $1703.00 as price target

Bearish below $1633.00 with $1617 and $1603.50 as price target

Neutral Zone between: $1633-$1642.00

       Silver needs to trade over $1635-$1645 zone to rise to $1696-$1703 zone.

·         Price moves will be big.

MCX GOLD AUGUST 2018 – previous day close Rs.39974

·           Gold needs to trade over 30857 today to rise to 31221.

·           Gold will crash if and only if it trades below 30857.

·           Immediate resistance is at 31049. Gold will zoom if it trades over 31049 today.

(prices in Indian rupees above)

HAPPY PROFITABLE TRADING

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.

Trade without emotions

"Print this report only if absolutely necessary. Save Paper. Save Trees."

NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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