-- Published: Tuesday, 23 July 2019 | Print | Disqus
Expected interest rate cuts by all the central banks is supporting gold at the moment. European central bank is expected to cut interest rates in September. Trade war theme is still there. In short, all the factors are bullish for gold. Investment demand is on the rise with passing of each week.
Economic growth news will be the key. Measures (other than interest rate or different forms of quantitative easing) by central banks to spruce up the economy will be the mover or shaker for gold and the currency markets. At the moment all the measures taken by central banks are bullish for gold and other safe havens. Back to the past, it is time to invest in hard assets.
Central banks have been just playing with expanding or contracting the supply of money. Free and cheap money has only increased the global debt levels without any corresponding increase in real growth. At the end of the day, the demise of paper assets is coming to an end. Paper and Pauper will go hand in hand.
COMEX SILVER SEPTEMBER 2019 – current price $1613.70
· Silver looks headed for $1693 and $1726 as long as it trades over $1570.
· Sell off will be there below $1570.
Silver September 2019: (previous day close/CMP Rs.40473)
· 100% retracement at Rs.40993 is the key resistance.
· Silver needs to break and trade over Rs.40993 to rise to Rs.42750 in the short term.
· Sell off will be there if silver does not break and trade over Rs.40993 OR silver fall below Rs.39500.
· Yes MCX silver September is bullish as long as it trades over Rs.39500.
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. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 23 July 2019 | E-Mail | Print | Source: GoldSeek.com