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Asian Metals Market Update: November-27-2019



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 27 November 2019 | Print  | Disqus 

The range trade in gold and silver which has been there in November will be broken in December. Volatility will rise. A new trend should be formed in December. I expect the US dollar Index to crash. Brexit, US jobs numbers and actual signing of the US-China trade deal should be market mover or market shaker in December.

Gold managed to trade over $1448 and needs to trade over $1448 to try and rise to $1482 and $1490. Silver can rise to $1780-$1800 as long as it trades over $1760. Crude oil and copper will zoom only when trade deal is signed. Till then firm trend will be there.

COMEX GOLD DECEMBER 2019 – current price $1459.00

·         Gold needs to trade over $1446-$1452 zone to rise to $1480.

·         Sellers will be there below $1454 and crash below $1446.

·         There can be very sharp two way moves.

MCX GOLD FEBRUARY 2019 – previous day close Rs.37793

·         View till 6th December: Gold needs to trade over 37450-37500 zone to rise to 38370 and 38744.

·         Crash or sell off will be there if (a) Gold does not break 38370 by 6th December or (b) Gold falls below 37450.

·         Today, there can be sharp pullback rallies as long as gold trades over 37600 to 38000 and 38247. Free fall will be there if gold trades below 37600.

(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. Website www.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

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 -- Published: Wednesday, 27 November 2019 | E-Mail  | Print  | Source: GoldSeek.com

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