-- Published: Thursday, 26 March 2020 | Print | Disqus
There is an old saying in Hindi “Jab tak hai sona roona kaabhi nahi roona”. This is means that if you and your family own lots and lots physical gold (sona), they will never face any financial hardship in life.
Forget the dash for cash. It is now the dash for physical gold. It is the dash for physical silver. You cannot buy gold. You can buy physical silver. Indians can buy silver July futures. Invest in silver mini lots.
Currency values are depreciating at a very past pace. The rich and elite (in almost every country) are converting all their money into gold. World is on the verge of a total breakdown of currencies. The paper currency surfaced mainly after the second world war. The corona virus in my view is not a “pandemic”, it is a “holocaust”. Gold is the only money in “holocaust”. There is no need for a third world war when humans have corona virus.
The focus on everyone should be to survive healthily for the next two years or unless a vaccine is discovered. You can survive if you trade and invest carefully without any bias or your family owns lots of physical gold. Very few own lots of gold. So the only option is to trade and invest carefully.
India is under rightful lockdown. Commodity exchange and stock markets are open. A few profitable trade a week will be possible only if you reduce greed and be happy with less profit.
Copper, nickel and all industrial metals and crude oil as well can rise on profit booking on short positions as the quarter comes to an end. Sharp bear market rallies can be there in all industrial metals can be there anytime.
There is hope and optimism that world will be near normal by Easter. I have zero confidence in such soothing words.
COMEX SILVER MAY 2020 – current price $1454.50
· Silver can rise to $1580.60 and $1644.80 as long as it trades over $1360-$1380 zone.
· Crash will be there if silver trades below $1380.
MCX Silver May 2020: (previous day close/CMP Rs.40813.00)
· View till next week: Silver can rise to 42714 and 45000 as long as it trades over 39718.
· Crash will be there if silver trades below 39718.
· Use any 2000-2200 fall (if any) to invest for end April with a stop loss below 35000.
(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.
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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
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.
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-- Published: Thursday, 26 March 2020 | E-Mail | Print | Source: GoldSeek.com