-- 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)
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NOTES TO THE ABOVE REPORT
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-- Published: Wednesday, 15 January 2020 | E-Mail | Print | Source: GoldSeek.com