-- Published: Thursday, 29 August 2019 | Print | Disqus
There is still some apprehensions over the sustainability over the rise in silver price. Most investors (in my view) prefer gold over silver. Even my elder brother does not like to invest in silver. The reason is that four years ago he had invested in physical silver at Rs.53,000 per kilogram and the price is yet to come. Gold’s preference over silver will continue among old traders and investor. Silver is getting investment demand from new investors who have never ever invested in bullion.
Conditions for gold and silver to rise even more is similar to 2003-2005 period. The only difference is that central banks were selling gold under central bank gold sale agreement (CBGA) and now almost every central bank is increasing gold reserves.
Taking the lower base at $1200, gold prices should rise three hundred percent from $1200 in the next seven days. That is $3600 in the next seven years. I am very serious. Silver will lag gold prices but still will rise.
COMEX GOLD DECEMBER 2019 – current price $1550.85
· Key resistance is between $1555-$1565. Gold needs to break and trade over $1555-$1565 zone to rise to $1590.
· Crash will be there if gold trades below $1530.00.
COMEX SILVER DECEMBER 2019 – current price $1848.80
· Key resistance is at $1866. Silver needs to break and trade over $1866 to rise to $1932 and $2000.
· Crash will be there if silver does not break $1866.
NYMEX CRUDE OIL (JULY 2019) - current price $55.59
· Crude oil needs to trade over $54.80 to rise to $56.80 and $58.00.
· Crash will be there below $54.80 for the rest of the week.
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: Thursday, 29 August 2019 | E-Mail | Print | Source: GoldSeek.com