-- Published: Thursday, 9 May 2019 | Print | Disqus
Over the past two years, direction of a nation’s currency has had a bigger impact on gold, silver and all metal prices. Gold and silver have been trading in a wider range. Winning bets are those who are able to correctly forecast the trend of their national currencies. Gold and silver are not rising (in US dollar quote) despite all the positive factors. Central banks are buying gold. There is trade war. Currency and paper assets are rising on shaky long term fundamentals. Still the range trade for gold and bearish bias for silver.
Short term hot money is not flowing into gold and silver. Crude oil gets the maximum short term hot money. Trump tweets on crude oil has impacted crude oil prices the maximum. Republican party’s big donor’s are the big American energy industry. Trump policies on Iran and Libya are aimed to blocking their crude oil supplies and ensuring that more and more nations increase American crude oil purchases.
It is very difficult to predict what will be global reaction even if there is a so called US-China trade deal. I have writing since March that the fine prints of the deal has to be made public to know the real impact on both USA and China. Better to remain on the sidelines today.
COMEX SILVER JULY 2019 – current price $1484.80
· Silver will break free from $1460-$1500 trading range and form a new range anytime.
· Crash will be there below $1475.
· Silver needs to trade over $1500-$1505 zone to attract short covering.
MCX Silver July 2019: (previous day close/CMP Rs.37402)
· Only a break of 37700-37780 zone will trigger another wave of rise to 38056 and 38300.
· Small sell off will be there below 37330.
· In case silver does not break 37780 by tomorrow then it will fall to 36902 and 36600.
(prices are Indian rupees above)
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.
NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
Follow us on Twitter @insigniaconsul1
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
Customer care/Whatsapp/Telegram: 9311139549
You can also mail your queries at ‘s
Chat Id: mcxsuretips@gmail.com (gtalk), (10:30 am to 5:30 pm Indian time, Monday to Friday)
| Digg This Article
-- Published: Thursday, 9 May 2019 | E-Mail | Print | Source: GoldSeek.com
