-- Published: Wednesday, 18 December 2019 | Print | Disqus
Gold will break free from $1470-$1490 trading range and form a new range. Silver will break free from $1660-$1750 and form a new range. Copper and crude oil need to trade over current price to be in bullish zone. Trump and his impeachment related news and the US political drama needs to be closely watched. Do not ignore economics.
2019 will go down as the year where voters have given a larger than life mandate to political leaders be it UK’s Boris Johnson or Indian prime minister Modiji among leaders. I just hope that these leaders live upto people’s expectation. Gold will rise at a quicker pace if these mass leaders fail to live upto people’s expectation. In India, Prime Minister Modiji is giving people all kinds of nationalism BUT “net job creation” remains negative. Cost of surviving is rising in India backed up flat salaries and fears of getting unemployed. If global leaders follow Indian prime minister then the pace of rise of gold will be much quicker than most of us expect.
2019 will also the year of mass unrest. India, France, Hongkong are the best examples. If this year’s mass unrest continues into next year, then gold investment demand will zoom and gold price will easily reach $2000.
Traders will start taking positions for New Year and Christmas as the week progress. I see more investment interest in stocks than gold and silver for next year. Even I am bullish on Indian stocks for next year. Worst is behind us or whether the so called global rally will be an exit opportunity will depend on fundamentals of each nation. Gold investment demand on or from the second week of January will be the key.
COMEX GOLD FEBRUARY 2020 – current price $1480.65
· Gold needs to trade over $1470-$1473 zone to rise to $1490 and $1500.
· Crash if gold falls below $1470 today OR does not break $1490.10 by tomorrow.
NYMEX CRUDE OIL (December 2019) - current price $60.44
· Only a break of $61.40 will trigger another wave of rise to $66.00.
· Crash to $57.80 will be there if crude oil does not break and trade over $61.40.
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, 18 December 2019 | E-Mail | Print | Source: GoldSeek.com