-- Published: Monday, 14 October 2019 | Print | Disqus
Skepticism on the positive impact of US-China partial trade deal has resulted and silver trading firm. In my view, there will be more trade deal with other nations should Trump’s political problems worsen. Further trade deal between USA and rest of the world will be dependent on internal politics of USA.
Trend of gold and silver till Wednesday needs to be closely watched. Trend (whether bullish or bearish) can keep on changing every now and then. Physical demand of gold and silver in Asia will rise on every sharp fall. Premiums in gold and silver should rise this week.
Sharp falls (if any, this week) in gold and silver should be used to invest for the year end. At the end of the day, Trump and his trade war has done long term damage to the greenback and paper currency market. Positive sentiment and relief rally in currency market will be short lived. Globally financial market has started bearing the cost of 2020 US presidential elections. Cost is the collapse of bond and currencies. Cost is a near recession. Gold can correct more but will eventually rise. Pace of rise of gold each month will vary.
COMEX GOLD DECEMBER 2019 – current price $1490.45
· Gold needs to trade over $1480 today to rise to $1511 and $1522.
· Watch $1490. Gold can move $30 either side from $1490.
· Bearish trend for tomorrow will be there only if gold trades below $1484 to $1465 and $1448.
MCX Silver December 2019: (previous day close/CMP Rs.45278)
- Key long term support is at 44390.
- Silver can rise to 46734 and 47645 this week as long as it trades over 44390.
- Short term bearish phase will be there only if silver has a daily close below 44390 to 43608.
- Intraday silver needs to trade over 45540 to rise further.
(prices in Indian rupees above).
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: Monday, 14 October 2019 | E-Mail | Print | Source: GoldSeek.com
