-- Published: Tuesday, 25 September 2018 | Print | Disqus
A Trump trade deal with South Korea can result in a fall in gold and silver. There will be increased optimism that all nations will fall in line. Beneficiary on the trade deal are US farmers. US farmers are Trump’s key voter base. A Trade deal with China will not be easy as they are not dependent on the USA for their exports. US inflation will zoom if there is a full scale trade war with China.
Gold investors and physical buyers will be on the sidelines today. I am bullish on silver. Sharp corrections should be used to invest. The pace of rise of silver will be slow. Physical demand is good in India and is expected to remain good over the next two months. I also see large hedge funds investing in physical silver.
Economics & Trump trade wars
The FOMC meet will need to be looked for inflation and interest rate scenarios. September is not yet over. It has been an enduring quarter for gold and silver bulls. Volatility in currency markets will rise.
An interest rate hike is one hundred percent factored in by the markets. A dovish federal reserve on December’s interest rate hike will be bullish for gold and silver and bearish for the US dollar Index. September US nonfarm payrolls on 5th October will be the key mover for the currencies and metals if the Federal Reserve is dovish on December’s interest rate hike. All US economic data released till 10th November will be prone to revisions because of the US senate elections.
COMEX GOLD DECEMBER 2018 – current price $1202.80
Bullish over $1200.10 with $1208.60 and $1218.10 as price target.
Bearish below $1196.60 with $1191.40 and $1182.80 as price target.
Neutral Zone between: $1196.10-$1204.10
· Gold will break free from $1188-$1200-$1218 range and form a new range.
· Watch $1200. Gold can move $14 either side from $1200 anytime.
· I am against aggressive buying at current prices and will prefer to wait till London’s open and then take a call.
MCX COPPER NOVEMBER 2018 – previous day close Rs.459.10.
One Support: 456.80
One Resistance: 463.30
· Small sell off will be there below 459.
· Crash will be there below 453.50.
· There will be another wave of rise over 464.70.
(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
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-- Published: Tuesday, 25 September 2018 | E-Mail | Print | Source: GoldSeek.com