-- Published: Friday, 28 September 2018 | Print | Disqus
Focus over the next two weeks will be on fundamentals. Currency prices will be dependent on comparative growth rates for the next six months. Growth rates and inflation trends will dictate the interest rate cycle which in turn will affect gold and silver prices. Industrial metals trend will be dependent on Chinese and American growth outlook. Next week’s US September various jobs numbers will be the key.
Right now Indian jewelers will be using dips to stock up for Diwali. I do not except exceptionally super-duper jewelry sales during the month long festival period between 8th October and 7th November. Indian gold prices need to be below 30900 (per ten grams) between 8th October and 7th November for jewelry sales to zoom. There is a new class of investors in India which buys gold just for the purpose of investing. This group will be using the fall to invest more. Silver is still an untouchable for most global investors. In my view silver should rise more than gold in the final quarter of the year.
COMEX COPPER DECEMBER 2018 – current price $278.70
Bullish over $277.10 with $282.20 and $287.10 as price target.
Bearish below $275.90 with $273.40 and $271.10 as price target.
Neutral Zone between: $275.90-$277.10.
· Sellers will be there below $277.10.
· There will be another wave of rise over $280.10.
MCX Silver December 2018: (previous day close/CMP Rs.37599)
Bullish over 37297 with 37986 and 38370 as price target.
Bearish below 37211 with 37089 and 36680 as price target.
Neutral Zone: 38211-37297
· Crash will be there below 37211.
· There can be very sharp pullback rallies as long as silver trades over 37211 to 38106.
· Use sharp dips in silver today to buy for next week with a stop loss below 36300.
· (Prices in Indian rupees above)
HAPPY PROFITABLE TRADING & HAVE A RELAXING WEEKEND
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: Friday, 28 September 2018 | E-Mail | Print | Source: GoldSeek.com