-- Published: Wednesday, 4 December 2019 | Print | Disqus
Relations between USA-China is moving from bad to worse. USA is interfering with Chinese sovereignty be it Hongkong or the South China Sea or Chinese dealing with Muslim minority. Gold and silver will remain firm as a result of this. Correction will be there if various US jobs numbers (release begins from today with November private ADP) beat street expectations.
U.S. President Donald Trump warned a trade deal with China might not come until after the 2020 U.S. presidential election. NATO leaders will tell U.S President Donald Trump today they are spending billions more dollars on their militaries in the hope that he pares back his attacks on the Western alliance. All out effort is being made to save the NATO. Over the coming years NATO will be like the Commonwealth nations which is just on paper. Gold will be the best beneficiary on the reduction of power status of NATO.
Escalation of Trade War with China by Trump and US: The U.S. House of Representatives overwhelmingly approved a bill that would require the Trump administration to toughen its response to China’s crackdown on its Muslim minority, demanding sanctions on senior Chinese officials and export bans.
Key technical resistance in gold and silver have to be breached in gold and silver till Friday to start another wave of rise.
COMEX GOLD FEBRUARY 2020 – current price $1483.50
· Gold needs to trade over $1473-$1476 zone to rise to $1495.20 and $1514.30.
· Sellers will be there below $1473 and crash if gold does not break $1495.40 today.
NYMEX CRUDE OIL (December 2019) - current price $56.40
· Crude oil needs to trade over $55.00 to rise to $57.80 and $59.20.
· Crash will be there below $55.00 to $53.20 and $51.40
· As long as trade war escalation theme is on the headlines, sharp rise should be used to go short with strict trailing stop loss.
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: Wednesday, 4 December 2019 | E-Mail | Print | Source: GoldSeek.com