-- Published: Tuesday, 21 January 2020 | Print | Disqus
The IMF now sees growth at 3.3% this year, down from 3.4% and also cut the 2021 forecast to 3.4% from 3.6%. Yet it still lifted the outlook for China to 6%. Slower growth rates imply lower interest rates. Low interest rates along with high inflation will result in continued rise on gold investment demand for the rest of the year. If gold price rise sharply and silver lags, then retail investors will opt to invest in silver. Silver just needs to break that all important $20.00 resistance. Once silver breaks past $20.00, then $30.00 will be there much sooner than most of us expect.
Long term nickel bulls need to keep a close watch on battery technology. I see a new Huawei mobile being powered by a Graphene battery. I have been in love with graphene ever since I can to know about it. Graphene is the future for everything. Graphene is highly undervalued. After four to five years, if graphene gets adopted as battery. It could replace the current Ni-cd batteries. Nickel at the moment is very bullish. However, Graphene could bury every nickel bull in the very long term. Keep a close watch on Graphene and it uses. (The more I google graphene, the more I love it. I google every day for new graphene uses.)
There can be very sharp two way moves in gold and silver today. Day traders trade very carefully despite the bullish trend.
COMEX SILVER MARCH 2020 – current price $1813.50
Bullish over $1790.50 with $1830.50 and $1860 as price target
Bearish below $1780.50 with $1768.50 and $1747.50 as price target
· Silver can rise to $1830 and $1850 today as long as it trades over $1785-$1795 zone.
· Sellers will be there below $1800.
MCX Silver March 2020: (previous day close/CMP Rs.46976.00)
· Silver can rise to 47637 and 47443 (by Thursday) as long as it trades over 46482.
· Sellers will be there today if silver trades below 46482.
· Big three days ahead for silver. It needs to rise to attract short covering.
(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
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NOTES TO THE ABOVE REPORT
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-- Published: Tuesday, 21 January 2020 | E-Mail | Print | Source: GoldSeek.com
