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Asian Metals Market Update: April-8-2019



By: Chintan Karnani, Insignia Consultants

 -- Published: Monday, 8 April 2019 | Print  | Disqus 

Trump wants interest rate cuts this year. His strategy is simple: Weaken the US dollar à A weaker US dollar will help US exports and also reduce import à Higher employment will be there if interest rate cuts are there and the US dollar also weakens. The ultimate goal of all these moves is to get a re-nomination next year and also win next year presidential elections. The fallout of a weaker US dollar will be higher crude oil prices, higher gold prices, strong Asian currencies against the US dollar amongst another potential fall out of a sharp US dollar depreciation.

 

The first week of the quarter is over.  Traders will now start taking positions for Easters and end June. The pace of rise of gold and silver will determine the investment interest. Chinese and Russian central bank continued increase in gold reserves is a long term bullish factor for gold. In the short term, direction of the US dollar will be the key.

 

European central bank meeting and FOMC minutes will be the key to the US dollar. Brexit and Asian demand will also affect gold and the US dollar.

 

COMEX GOLD JUNE 2019 – current price $1299.50

Bullish over $1294.10 with $1307.60 and $1323.10 as price target

Bearish below $1290.10 with $1286.90 and $1279.10 as price target.

Neutral Zone between: $1290.10-$1294.10

·         Gold will zoom if it trades over $1300 to $1310 and $1323.

·         Sell off will be there below $1290.

MCX Crude oil 18th April 2019: (previous day close/CMP Rs.4362)

o     Crude oil needs to trade over 200 day moving average of 4355 this week to rise to 4481 and 4550.

o     Small sell off will be there below 4318.

(Prices are in Indian rupees above)

HAPPY PROFITABLE TRADING

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific 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. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Website www.insigniaconsultants.in. 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.

Insignia Consultants does not have any branches in India.

Insignia Consultants does not have any marketing agents in any city in India.

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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The analyses are based on closing price of previous day. Maintaining proper stop loss is always recommended.

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: Monday, 8 April 2019 | E-Mail  | Print  | Source: GoldSeek.com

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