-- Published: Friday, 8 November 2019 | Print | Disqus
Typical gold and silver price movement after Diwali. Gold and silver have always formed short term peak around Diwali. Irrespective of the news, history has repeated itself. I will prefer to use sharp dips to invest for next year. Long term investment is good at current price. Short term investors and very short term traders need to remain on the sidelines. Physical demand and investment demand for gold and silver should rise.
Look for weekend short covering. If gold and silver do not see any short covering, then might move into a short term bearish phase. Assuming there are no Trump tweets.
China says that there will be a gradual reduction in trade tariffs. Basically China is conveying that trade tariff reduction will be two way thing. It will stop if USA does not reciprocate. Trump has a history of making a U turn on his commitment. It’s a wait and watch. Focus will be mainly on economics after a very long time.
COMEX SILVER DECEMBER 2019 – current price $1699.70
· Silver needs to trade over $1680-$1690 zone to rise to $1760.
· Crash or sell off will be there if silver trades below $1680 today to $1652 and $1606.
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
Follow us on Twitter @insigniaconsul1
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 firstname.lastname@example.org
Chat Id: telegram/whatsapp 9311139549
(9:30 am to 9:30 pm Indian time, Monday to Saturday)
| Digg This Article
-- Published: Friday, 8 November 2019 | E-Mail | Print | Source: GoldSeek.com