-- Published: Wednesday, 25 September 2019 | Print | Disqus
Trade war will continue. Trump bashing China for atrocities to Muslims is a part of the trade war. Saudi Arabia has a beheading culture. Not a single nation dare criticize Saudi Arabia. Wahabi form of Islam is funded by Saudi Arabia to spread it worldwide. Wahabi form of Islam is more repressive than Chinese atrocities towards Islamic followers. Which nation or religion allows lashes for petty crimes? Only Wahabi form Islam and no other religion. China is just trying to preserve its own cultural identity which the world leaders name it as atrocities. Freedom of expression is good and needed. Freedom of expression should not used to spread hate among people or induce people in religious conversion activities. Effect on gold and silver: Gold and silver will continue to rise. Trade wars are here to stay. Sharp corrections should be used to invest.
I do not think Trump will be impeached. These kind of news will also be bullish for gold and silver. Investment demand will rise over the coming weeks and coming quarters. Economic data releases are not having any impact on bullion or the US dollar Index.
Gold and silver can see some wild intraday two way price swings till the 4th of October. Traders and investors have started taking positions for next quarter. Only some positive trade deal between USA and China can result in s temporary correction in gold and silver.
COMEX GOLD DECEMBER 2019 – current price $1536.80
· Gold needs to trade over $1520-$1525 zone to rise to $1555 and $1573.
· Crash will be there only below $1520.
· Day traders remain on the sidelines. Short term investors use sharp dips to invest.
MCX Gold October 2019: (previous day close/CMP Rs.38108)
- Gold can rise to 38474 as long as it trades over 37880.
- Sell off will be there below 37880.
- Gold will zoom if it trades over 38220 today.
- Till future close on 30th September key support is at 37550. Key resistance is at 38460. Trading range will be wide due to a fluctuating rupee.
(prices in Indian rupees above)
COMEX SILVER DECEMBER 2019 – current price $1858.20
· Silver needs to trade over $1848 to rise to $1900 and $1932.
· Crash will be there if silver trades below $1848.
· Silver needs a daily close over $1848 today to be in bullish zone for the rest of the week.
NYMEX CRUDE OIL (SEPTEMBER 2019) - current price $57.00
· Crude oil will crash to $52.90 if it trades below $56.00 after the release of US weekly crude oil inventories today.
· Crude oil needs to trade over $57.50 today to rise further.
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
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Wednesday, 25 September 2019 | E-Mail | Print | Source: GoldSeek.com