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Asian Metals Market Update: Jan-15-2020



By: Chintan Karnani, Insignia Consultants

 -- Published: Wednesday, 15 January 2020 | Print  | Disqus 

On the face of it, the so called trade US-China trade deal looks a sham just to fool the voters. US treasury secretary has said that trade tariff’s with China will be there until the second phase of the trade agreement. Trump’s biggest vote bank is farming states. Energy companies have a history of funding Republicans. Chinese will be buying very large quantities to American farm produce and American energy products. Trump has taken lessons from Asian politics. I see limited downside risk from here in gold, unless there are economic reasons.

Progress of Trump and his impeachment related news will be the key. Gold and silver will see a correction if impeachment vanishes. Keep a close watch on this.

Cautious optimism in all metals and energies for the rest of January. Time till end January could be a day traders paradise and short term investors nightmare. Trialing stop losses will be useless. Better to buy market and sell market.

COMEX GOLD FEBRUARY 2020 – current price $1552.40

·         Gold can rise to $1567 and $1585 as long as it trades over $1543.

·         Sellers will be there below $1543.

·         There can be some sideways trade moves.

MCX Copper January 2020:  (previous day close/CMP Rs.453.85)

·         Copper needs to trade over 451-452 zone to rise to 460.60 and 464.

·         Crash will be there if copper trades below 451.00 to 447.80 and 443.40.

·         Big three trading sessions ahead till Friday for copper. Boom or bust days.

(prices are 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

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: Wednesday, 15 January 2020 | E-Mail  | Print  | Source: GoldSeek.com

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