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Asian Metals Market Update: October-16-2019



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 16 October 2019 | Print  | Disqus 

Investors are preferring stock over gold. This has resulted in the correction and not a bear rally. Bear rally will be there if gold does not break $1466 by 15th November. I will prefer to remain on the sidelines in gold today. I will still prefer to use crashes of $100 and more in silver (if any) to invest for the long term. Day traders have to remain on the sidelines in silver.

Trump impeachment news, US political scenario and US-Turkey relations also needs to be closely watched. US-China trade war is just the wolf at the moment.

Economic data releases from USA and Brexit will affect stocks, bonds and energies. Physical demand in India will be there on sharp dips for another week. Thereafter price trend will dictate gold investment and silver investment demand in India.  

COMEX GOLD DECEMBER 2019 – current price $1487.00

·         Gold needs to trade over $1490 today to rise to $1508 and $1522.

·         Crash will be there below $1480 to $1468 and $1456.

·         A daily close below $1490 today will be very bearish for gold for tomorrow.

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

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

Insignia Consultants does not have any branches in India.

Insignia Consultants does not have any marketing agents in any city in India.

NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

You can also mail your queries at insigniacommodity@gmail.com

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 -- Published: Wednesday, 16 October 2019 | E-Mail  | Print  | Source: GoldSeek.com

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