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Asian Metals Market Update: Jan 23 2019



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 23 January 2019 | Print  | Disqus 

Gold and silver are steady. Trump’s top economic advisor is looking for commitments from China for a trade deal. Uncertainties over a trade deal will prevent gold from a big sell off. Right now the trend in gold is neutral. Silver needs to trade over $1500 to be in a bullish zone. Day traders are on the sidelines. Long term investors are using sharp dips to invest in gold. Some large fund managers who have never invested in gold have started buying physical gold.

 

Intraday trading is dependent on news. Brexit, the trade war and US government shut down news can swing prices. Medium term to long term metal prices will move on fundamentals.

 

A bit on India

More and more medium sized Indian companies are selling their business or intend to sell to global hedge funds and global companies. Valuations in some seems to be over the moon. Global corporations are eager to invest in India due to a very high youth population and comparatively less debt than Americans. India’s savings rate will fall with the passing of each year and debt/debt trap will rise for most of the population. This could be one the key reasona why global companies are either buying or looking to enter India through mergers and acquisitions route at high valuation. The USA and Europe or so called developed nations have an oligopoly is most sectors. Oligopoly and looting/price manipulation are similar words. In India also over the next five years, most of the key consumer oriented sectors will have a few large companies cornering most of the market share. Indian should enjoy all the discounts enjoyed by amazon or swiggy or others but do not get addicted to the same.

 

COMEX GOLD FEBRUARY 2019 – current price $1283.60

Bullish over $1278.10 with $1288.80 and $1300.10 as price target.

Bearish below $1272.10 with $1267.90 and $1260.10 as price target.

·           Small sell off will be there below $1279.10

·           Crash will be there below $1270.

·           There can be very sharp pullback rallies as long as gold not fall below $1270-$1272 zone to $1310.

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.

Trade without emotions

"Print this report only if absolutely necessary. Save Paper. Save Trees."

NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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UK session starts around 1:00 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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 -- Published: Wednesday, 23 January 2019 | E-Mail  | Print  | Source: GoldSeek.com

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