-- Published: Monday, 6 August 2018 | Print | Disqus
Gold and silver are still not out of the bear shadow yet. It is a wait and watch as long as gold trades over $1200 and silver trades over $15.00. Indian demand will rise with rakhi. Now a days I have seen gold and silver rakhi as the trend. However mobile phones and gadgets are a gifting trend in rakhi and other hindu festivals. Gold and silver stand to lose from the change in Indian preference. Asian demand is less as the feel good factor is not there. There are insecurities over whether jobs or business will result in lower demand for gold and silver in Asia. Asian people are going through an insecure phase.
I would like to emphasize that people should not resort to debt to maintain their current lifestyle if their income reduces. This will only increase your long term financial woes. It you take debt once, the chances of you moving into a debt conundrum is over fifty percent. Investment in gold is the best way to tide over financial insecurities. There is a period of three years to four years when everyone goes through some crisis in life. I call it the midlife crisis. The best way to get over the midlife crisis is to (a) reduce expenses, (b) preplan for crisis and invest in gold, (c) maintain a healthy lifestyle so that medical expenses do not burden you, and (d) last never resort to debt.
Economics & Trump trade wars
The Trump-China trade spat news will affect all financial markets. Inflation numbers from the USA and Europe will be on the higher side. Metals will trade with a softer bias unless the fundamental outlook changes. Irrespective of a global slowdown, I am bullish on Nickel, zinc, and copper. I will prefer to use sharp dips in them to invest. This is a week to relax and trade.
COMEX GOLD DECEMBER 2018 – current price $1224.20
Bullish over $1219.40 with $1231.20 and $1237.80 as price target.
Bearish below $1215.80 with $1207.20 and $1201.60 as price target.
Neutral Zone between: $1215.80-$1219.40
· Trend is neutral.
· Sellers will be there below $1219.
· Gold needs to trade over $1227.50 today to rise further.
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
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-- Published: Monday, 6 August 2018 | E-Mail | Print | Source: GoldSeek.com