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Asian Metals Market Update: July 24 2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 24 July 2018 | Print  | Disqus 

Once again the US dollar is playing a key role in determining gold and silver prices. Investors will not invest in gold and silver if price falls today also. In fact, there will be a sell off if gold and silver fall today. Big three days for crude oil as it needs to trade over $66.90 to prevent a sell off. Copper can range trade for a much longer time than most of us expect. I am very bullish on nickel (like over the past eighteen months) and will prefer a buy on sharp dips strategy as long as it trades over $12800 till the end of the quarter.


Do not Confuse long term investing with day trading or short term trading


Gold is still one the safest long term investments apart from certain crypto currencies. The value of your long term investment like gold or even certain long term stocks can fall by twenty percent on any given day. Yet it will recover quickly from the fall. One should not worry about long term stocks as long as fundamentals are positive. Fundamental review should be done every month on the long term investment. Hence for the long term, I prefer physical gold/silver or delivery based equity investment.


Short term trade is based on momentum, technical as well as fundamental. It is like playing a T20 cricket match. One should determine their loss taking potential in short term investment and then trade. Strict stop losses should be used.


Remain invested in gold and silver despite very low returns and may be even negative short term returns. Make physical gold as a part of your emergency funds and not a part of the main portfolio. Increase your emergency fund percentage wise every year from now till 2030.


Yes, I am asking everyone to save for 2030 and future years now in physical gold. My reason are (a) Block chain, artificial intelligence and robots will take most of the lower level jobs and middle level jobs. (b) Global warming rise will result in exponential rise in cost of surviving essential like air, water, food and medical expenses. (c) Emerging market governments like India will increase indirect taxes with the end result high spenders will pay huge taxes to the state. (d) Education debt in nations like India will zoom and may be even break the USA’s current student debt. Sacrifice and start increasing your annual savings now. Remember it is now or never. Think of your future. Think of your retirement. Use the extra savings to buy physical gold.


I am always against taking any debt or EMI’s as everyone calls. Only home loans and nothing else for me. Debt and death are synonymous for me. Do not get lured by various online sales. Remember no one sells anything for free. Even in a so called discount sale, sellers make a profit. 



COMEX GOLD AUGUST 2018 – current price $1222.80

Bullish over $1227.50 with $1234.90 and $1244.20 as price target

Bearish below $1219.80 with $1213.20 and $1204.40 as price target.

·           Gold needs to trade over $1219 to rise to $1242.

·           Sellers will be there if gold trades below $1219 today.

·           Please note that the above view is purely an intraday view.

MCX SILVER SEPTEMBER 2018 – previous day close Rs.38283

·           Silver needs to trade over 37951-38123 zone today to rise to 38614 and 38946.

·           Sell off will be there only below 374951.

·           Silver will try to rise this week, if silver does not rise this week, then silver can fall to 37276 and 36672.

·           A big week for silver bulls.

(prices are 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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