-- Published: Friday, 16 August 2019 | Print | Disqus
Trend for gold and silver is bullish. Better than expected US retail sale numbers did not result in correction. Some section of traders are expecting an interest rate cut next month. China will retaliate against US trade tariff. I am not writing big lines. Positive economic news has not resulted in correction in gold prices. Momentum is very bullish. Look for signs of small $15-$20 correction in gold.
Crude oil continues to remain fundamentally bearish. Industrial metals will be very volatile. This is the global summer trade. There have been excesses in the past between Middle of July and Middle of September.
More and more global investors have started loosing faith in treasuries. Investment money is flowing to gold from treasuries. Most of the Indians (in my view) went long in gold and silver on Wednesday in local MCX exchange.
COMEX GOLD DECEMBER 2019 – current price $1532.75
· Gold needs to trade over $1520-$1525 zone to rise to $1547 and $1562.
· Crash will be there below $1520 OR in case gold does not break $1548.
· There can be very sharp two way moves today.
COMEX SILVER SEPTEMBER 2019 – current price $1721.80
· Silver can rise to $1750 and $1786.50 as long as it trades over $1700-$1705 zone.
· Crash will be there below $1700.
· Silver futures are expiring in two week’s time. In the next two week’s silver needs to break and trade over $1775 for another wave of rise. Short term bearish trend will be there if silver does not break and trade over $1775 by the end of the month.
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: Friday, 16 August 2019 | E-Mail | Print | Source: GoldSeek.com