-- Published: Tuesday, 11 February 2020 | Print | Disqus
Unless the real impact of the corona virus is known, gold will range trade while industrial metals will rise. Volatility will rise from today. Trade very carefully. US economic data releases will have to beat street expectation this week for gold price to move into a short term bearish phase.
In February gold prices have been falling on Singapore open. This suggest lack of physical demand in Asia. I prefer to use Singapore gold premiums as a guide to Asian physical gold demand. Japanese are buying gold as gold prices have been rising this year as soon as Japan opens. If gold prices start rising after Singapore open for a few days then gold prices will zoom.
Gold, copper and crude oil is preferred by traders and investors alike. Very few like silver for trading and investment. Silver March futures are expiring at the end of the month. Silver will break free from $1730-$1830 wider trading range and form a new range. Silver is undervalued for long term. One can make good profit in silver intraday trading. Gold no doubt gives maximum return even in day trading. Those who understand silver price moves match profit by gold day traders. Understand silver price moves is more important for a day traders. Gold is ever green. If you long in gold you will get your price and make a profit, irrespective of your buy price. Silver trading is not about buy and sleep OR sell and sleep.
COMEX SILVER MARCH 2020 – current price $1772.70
· Silver needs to trade over $1750-$1760 zone to rise to $1800 and $1830.
· Crash will be there below $1750 to $1736.50 and $1714.50.
NYMEX CRUDE OIL (March 2020) - current price $50.14
· Crude oil can rise to $52.20 as long as it trades over $49.20.
· Crash till tomorrow will be there only below $49.20 to $48.40 and $46.40.
· The next three days till Thursday is very crucial for crude oil. If crude oil rises then a short term bottom will be formed and a move $60 by early March will be there.
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
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Tuesday, 11 February 2020 | E-Mail | Print | Source: GoldSeek.com