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Asian Metals Market Update: Aug 14 2018

By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 14 August 2018 | Print  | Disqus 

If gold and silver trade below $1200 and $1510 respectively then buyers will vanish and there will be losses. Gold prices in Asia have not fallen due to weaker currencies. There will be higher physical demand. Premiums in gold and silver will rise. I expect gold and silver to rise today. Tomorrow Indian markets are closed due to Independence Day. Hedges (hedge between comex futures-mcx futures and indian rupee futures) will be closed today due to tomorrow’s holiday. I will prefer a buy on sharp dips strategy in gold and silver today.

Impact Analysis: Turkey-USA trade spat

The escalation of the Turkey-US trade spat was something which was not anticipated by the financial markets. Everyone was focused on the US-China trade spat. Turkey was a googly (as in cricket bowling) for the financial markets. The US still has an airbase in Turkey. I believe that a Turkey-Russia-China-Iran trade axis and arms axis will be formed. All the four nations have been miserably been affected by US trade bullying. NATO is inducting more and more Eastern European nations into its group. This Turkey-Russia-China-Iran axis could be a new Cold War front. Turkey has a land border with Iran, Iraq and Syria. Russia and China have a land border. The sea trade route cannot be used by the USA and its NATO allies to block cargo movement. A Turkey-Russia-China-Iran axis will find a way to overcome the American controlled global banking system. The USA is trying to isolate these nations. These four nations in the long term can do a subsistence economy in the long term. The USA and its NATO allies will be at a long term loss and not the other way round which has been portrayed by the media. These developments are hyper bullish for gold. Turkey-Russia-China-Iran have gold reserves in their central banks. These central banks will continue to increase their reserves. Ask yourself what will happen if Russia and China stop selling their gold production in global markets? Russia-China combine are a very big gold producing group. It will be simple if trade escalation reaches a point of no return: Dump the US dollar-Trade with gold-stop selling gold in world market.


It is not gold, a lot of other metals and agri commodities will be affected if Turkey-Russia-China-Iran are alienated by the USA and its NATO allies. Wheat which is already galloping could reach Mars.


COMEX SILVER SEPTEMBER 2018 – current price $1500.50

Bullish over $1500.00 with $1526.50 and $1555.50 as price target

Bearish below $1486.50 with $1460.50 and $1448.70 as price target

Neutral Zone between: $1486.50-$1500.00

       Silver needs to trade over $1460 to rise to $1560.

·         Small sell off will be there below $1500.

·         Silver will rise quickly if it manages to trade over $1514.

MCX COPPER AUGUST 2018 – previous day close Rs.423.60

·           Copper needs to trade over 419.10 to rise to 432.50 and 437.

·           Sellers will be there below 419.10.

·           Direction of the Indian rupee against the US dollar will be the key to copper prices and metals.

(prices 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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