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Asian Metals Market Update: Jan-14-2020



By: Chintan Karnani, Insignia Consultants

 -- Published: Tuesday, 14 January 2020 | Print  | Disqus 

Ask yourself what factors what factors will affect global financial markets once the so called US-China trade deal is signed. Trade war is the biggest reason why gold prices rose from $1200 to $1600 in around twelve months. Central bank buying and other reasons have also contributed to gold price rise but the biggest catalyst has been the trade war and recession fears. I will happy if gold prices move into a short term bearish phase. Herd is buying gold. I am very cautious in any short term investment when I see masses investing as if they will never get prices. You must seen that when crude oil prices were at $140 and masses were buying heavily like a freebie. The end result crude oil prices fell below $40 over the coming years. Long term investors of gold and silver need not worry. Gold will continue to rise. The pace of rise of gold and silver will vary.

Silver, copper and natural gas should be the dark horse of 2020. Nickel will rise in 2020. But do not expect over fourty percent rise ( as in 2019) this year too in MCX. Nickel prices should rise twenty percent this year. Anything over twenty percent is a bonus to me. Copper last year did not find any big investment interest on growth fears. Global economic growth has seen the worst. Future is positive. There should be higher copper demand this year. Strong fundamentals in copper will lure more and more traders and investors to go long in copper futures and copper ETF. Industrial metals might be a cyclical play but still a good bet. Zooming of energy price is currently the only risk to my this year’s bullish view on industrial metals. Steel price and steel demand should also rise.

Some more trade war reduction news – bearish for bullion

Top trade officials from the United States, Japan and the European Union will huddle in Washington today to address non-market-oriented trade policies and subsidies by China, a day before Washington and Beijing finalise a preliminary trade deal.The U.S. Treasury Department dropped its designation of China as a currency manipulator days before top officials of the world’s two largest economies were due to sign a preliminary trade agreement to ease an 18-month tariff war. Our view: Gold can move into a short term bearish phase. Removing Chinese as a currency manipulator is the biggest news. There will be a shakeup global currency market positioning. One needs to closely watch China yuan swaps and its direction. It could affect bullion

COMEX SILVER MARCH 2020 – current price $1779.70

·         Key support is at $1756. There will be a technical breakdown below $1756 to $1702 and $1644.

·         Silver needs to trade over $1810 till Friday to be bullish zone.

COMEX COPPER MARCH 2020 – current price $285.60

·         Copper can rise to $303.30 by next week as long as it trades over $282.

·         If copper manages to trade over $285 today and tomorrow then $300 will be broken much sooner than most of us expect.

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

ALL PRICES/QUOTES IN THIS REPORT ARE IN US DOLLAR UNLESS OTHERWISE SPECIFED.

You can also mail your queries at insigniacommodity@gmail.com

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 -- Published: Tuesday, 14 January 2020 | E-Mail  | Print  | Source: GoldSeek.com

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