-- Published: Tuesday, 3 September 2019 | Print | Disqus
Northern hemisphere summer is over. It has been a golden summer this year. Silver outperformed gold. Some of you were telling me how I was not hyper bullish on silver. My answer is that, I have been an outright silver bull since I started analyzing precious metals in 2003 and will remain bullish on silver till I am alive. However I been scorned by clients, family and friends over the past few years on silver price as it was not rising. So I toned down my bullish calls on silver.
In my view, silver and gold both have formed a long term bottom this year. I do not expect gold and silver price to fall below this year’s low for the next ten years. So, yes big and large crashes (if any) in gold and silver should be used to invest for the long term. Physical gold and physical silver investment should be used to invest in gold. I am against futures and exchange traded funds (ETF) for long term investment in gold and silver.
US markets are closed today. Indian commodity exchanges MCX and NCDEX are both will open at 5:00pm local time. US-China trade war will support gold and silver at lower prices. This is a big global economic data release week.
Trend for gold and silver is very bullish. Most of the economically depressing news due to trade war has already been factored in by the markets right now. A better than expect economic data releases from USA, UK, Eurozone and Japan can result in profit taking in long positions. Once again watch the bond yields.
COMEX GOLD DECEMBER 2019 – current price $1534.45
· Gold needs to trade over $1520 till tomorrow to rise to $1566 and $1586.
· Crash or sell off will be there below $1520.
· Remain on the sidelines.
COMEX SILVER DECEMBER 2019 – current price $1844.80
· Silver needs to trade over $1818 to rise to $1875 and $1930.
· Crash will be there if silver trade below $1818.
· Remain on the sidelines till UK opens.
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, 3 September 2019 | E-Mail | Print | Source: GoldSeek.com
