-- Published: Thursday, 12 July 2018 | Print | Disqus
I expect higher physical demand in Asia to prevent further crashes. Use the current correction in gold and silver to invest for yearend or for a period of two years. I have been advising a ten percent investment in physical gold and silver. I am now asking you to increase the same to fifteen percent of your long-term investment.
In India, the mark to market (MTM) value of my equity investment has fallen by more than forty percent since March. Indian equity indices rise does not give a real picture of the value of one’s investment. Small cap stocks and mid cap stocks have nosedived. I do not see my equity investment starting to rise before September. Gold and silver have not fallen significantly. The returns are less but still safer bets in times like the current one. So gold and even silver has to be a part of one’s portfolio. I will prefer silver investment to gold. My preference is a 40:60 ratio for gold:silver in my portfolio.
Economics & Trump trade wars
Metals and energies trend will be directly dependent on the US dollar. Direction of trade wars will be the key. Talks will restart. The pace of rise of interest rates will be high globally as inflation beats street expectation. Even if crude oil prices plunge, the rise in other things will make up for crude oil price plunge. Inflation is always bullish for gold.
Do not panic on sudden price moves. Take long deep breath for a few times before you place orders for day trades. If you are not confident do not start till tomorrow. Trading and investment opportunities will come next week also. Trade in fundamentally strong investment as they will recover very quickly whenever there is a turnaround.
COMEX GOLD AUGUST 2018 – current price $1243.00
Bullish over $1238.40 with $1254.10 and $1263.60 as price target
Bearish below $1227.50 with $1219.20 and $1210.10 as price target.
Neutral Zone between: $1227.50-$1238.40
· Gold needs to trade over $1227-$1237 zone till next week to rise back to $1273.
· Sellers will be there below $1237 today.
· Please note that the above view is purely an intraday view.
MCX COPPER AUGUST – PREVIOUS DAY CLOSE Rs.420.15
100% retracement is at 416.70. Copper can rise to 431.20 and 437.10 as long as it trades over 416.70.
· There will be another wave of sell off below 416.70 to 411.60 and 408.80.
(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.
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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-- Published: Thursday, 12 July 2018 | E-Mail | Print | Source: GoldSeek.com