-- Published: Wednesday, 11 December 2019 | Print | Disqus
Everything will depend on trade deal and impeachment news of Trump. UK election result will have only a temporary effect. Traders will start taking positions for early January from next week. Forget your bullish or bearish biases for any investment and be ready to make some good profit. The next four days for the investment world will be similar to playing a T20 cricket match.
I was a bit disappointed yesterday as gold did not rise despite Trump and his more impeachment news. Gold is firm but did not rise sharply. The biggest four continuous trading sessions of this year starts from today. Anything can happen till Monday. Sit on cash BUT use sharp (if any) to invest for next year in gold and silver. If you are already invested in gold and silver and have some surplus cash to invest, then buy small amounts of physical gold and physical silver in 50:50 ratio for 2021.
The British pound slipped after a poll showed a narrowing lead for Prime Minister Boris Johnson’s Conservative Party in election later. UK election should be positive for gold bulls. Brexit has to be there and/or there has to clarity on clarity. So far UK and European politicians are playing with dates postponement and nothing else. Traders and investors are just trading in euro and pound the way these politicians want. Cable will be on a roller coaster ride till next week.
COMEX GOLD FEBRUARY 2020 – current price $1468.40
· Gold needs to trade over $1460-$1465 zone to rise to $1480.10 and $1505.50.
· Crash if gold falls below $1460 today.
· Key support till Friday is at $1450.10.
MCX Nickel November 2019: (previous day close/CMP Rs.991.50):
· Nickel can rise to 1035 and 1077 by Friday as long as it trades over 948-960 zone.
· The next wave of sell off will be there only below 948 for the rest of the month.
(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: Wednesday, 11 December 2019 | E-Mail | Print | Source: GoldSeek.com