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Asian Metals Market Update: August-14-2019

By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 14 August 2019 | Print  | Disqus 

Trump and his delay of additional trade tariff will not have any impact on gold and silver. Yesterday’s fall was just an excuse to book some profit. Long term bullish factors such as de-dollarization, central bank buying and interest rate cut trend is here to stay. Even corrections up to $1370 (if any) will be a part of the bullish trend.


Silver will rise. I do not foresee it falling below $1580-$1600 zone in the event of a crash. In short use sharp dips to buy/invest for the long term. I am not buying or investing in crude oil. Global crude oil demand will slump after three weeks. European and American summer travel season will end after three weeks. Fundamentals are still bearish for crude oil. Copper will be volatile. I will prefer a buy on dips strategy for copper with a stop loss below $247 for the rest of the month.


Big three days ahead for gold and silver. If they rise then $1649 (gold)  and $1920 (silver) will be targets by next week. Crash or another wave of sell off will be there only if gold and silver fall below yesterday’s low.


Trader sentiment is still very bullish. I have seen gold prices rising from $380 to $1923 in more or less one way price move. I see similar circumstances right now. I will not be surprises I gold rises to $2000 by year end. An ever green silver bull will remain a silver fall. Silver is bound to rise. But silver investment is not for those treating it as a T20 cricket game.


COMEX GOLD DECEMBER 2019 – current price $1512.70

·         Gold needs to trade over $1490 to rise to $1545 and $1573.

·         Crash will be there below $1490 OR in case gold does not break $1533.

COMEX SILVER SEPTEMBER 2019 – current price $1692.70

·        Previous resistance of $1668 is now the support.

·        Silver needs to break and trade over $1668 to rise to $1740 and $1770.

·        Invest in silver for month end with a stop loss below $1570.

NYMEX CRUDE OIL (JULY 2019)  - current price $56.44

·        Key resistance is at $57.05. There will be another wave of rise if crude oil manages to break and trade over $57.05 to $59.60.

·        Crash will be there below $55.70.

COMEX COPPER JULY 2019 – current price $261.60

·        Copper will see another wave of rise if it manages to break and trade over $263.20 to $267.50 and $270.30.

·        Small sell off will be there below $259.80.

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. 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.



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