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Asian Metals Market Update: July 11 2018



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 11 July 2018 | Print  | Disqus 

Gold can fall first and then rise. Investors will prefer to sit on cash or invest in a safer bond market till a clear picture on the impact of the USA induced trade war is there. Anyways equities offer a much better return than gold in the short term. Risk is much higher in stocks than gold but returns outweigh risk. I again repeat that gold investment is not for a few weeks to a quarter. Gold has to be invested for a period of six months and more to get some really good returns. Gold offers good day trading opportunity as well.

 

Economics & Trump trade wars

The USA will impose additional tariff on $200 billion Chinese imports. This is just the beginning of the global trade war. There will be conciliation as well as retaliation by Chinese. The American bully will unite most of Eastern Asia. The only positive thing which can happen is that China will stop loss its land grabbing policy with its neighbors. I personally support the Chinese stance on South China sea. We just need to wait and watch how far and how long the US trade war will continue. There will be a slowdown in China even though minute.

 

The US dollar Index can rise first and then nosedive. The US dollar index will crash only if political issues are resolved in the UK and Eurozone. New friends will be there among nations. Trump’s message is to dump the “World Trade Organization” (WTO) and move to an era of bilateral trade. Increase in bilateral trade will result in higher gold prices from next year.

 

The USA will be a winner in the trade war till 2019 and thereafter it will be a sore loser. American are like Lewis Hamilton (of Formula One racing) who make a dramatic cry on every lost race. Physical gold has to be a part of every one’s saving.

 

COMEX SILVER SEPTEMBER 2018 – current price $1597.50

Bullish over $1600.00 with $1619.00 and $1637.00 as price target

Bearish below $1590.00 with $1580.50 and $1567.80 as price target

       Silver will crash if it trades below $1580.

·         Silver needs to trade over $1600 to rise further.

·         It can be +/- $40 either side from $1600.

COMEX COPPER SEPTEMBER 2018 – current price $274.50

Bullish over $278.00 with $284.60 and $290.10 as price target

Bearish below $273.20 with $268.10 and $263.10 as price target

Neutral Zone between: $273.20-$278.00

       There is a technical congestion between $268.10-$271.70 zone.

·         Trend is down. Copper will sink if it trades below $268.10 to $253.40.

·         Copper needs to trade over $278 to rise further.

HAPPY PROFITABLE TRADING & TRADE VERY CAREFULLY TODAY.

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

Follow us on Twitter @insigniaconsul1

UK session starts around 1:00 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

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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