-- Published: Thursday, 6 February 2020 | Print | Disqus
Central banks believe that by injecting additional liquidity everything will be fine. Interest rate cut is the buzz word this year. The purchasing power of your national currency will rapidly fall on every massive liquidity injection. Use sharp dips to invest in gold for the long term.
Corona virus is spreading with passing of each day. Numbers of deaths are rising each day in China. Numbers of new infected people (within China and globally) are rising with passing of each day. There will be an economic impact. If medical expenses rise and income is constant, then balance will be there by reduction in some expenses. Non-essential expenses like travel, high end consumer durables and forms of consumer spending will take a hit. The long term impact in China will be that higher savings rate to meet corona virus impact type exigencies. We in India are used to higher medical expenses due to dengue, malaria, H1N1 flu among other spate of preventable diseases which we suffer throughout the year. Chinese are not used to it.
Industrial metals may have formed a short term bottom. They are very bullish. Copper, zinc and nickel are the best investment picks. However if the corona virus deaths does not start reducing as February progresses then industrial metals can fall.
COMEX SILVER MARCH 2020 – current price $1762.80
· Silver needs to trade over $1737-$1745 zone to rise to $1796 and $1830.
· Crash will be there below $1737 to $1719.50 and $1700.50.
COMEX COPPER MARCH 2020 – current price $260.90
Bullish over $260.10 with $263.60 and $268.00 as price target
Bearish below $257.90 with $253.90 and $250.10 as price target
· Copper needs to trade over $257-$258 zone to rise to $268.10 and $273 (by tomorrow).
· Crash will be there below $257 today.
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.
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NOTES TO THE ABOVE REPORT
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-- Published: Thursday, 6 February 2020 | E-Mail | Print | Source: GoldSeek.com
