-- Published: Wednesday, 15 April 2020 | Print | Disqus
Insignia Consultants
New Delhi
Wednesday, April 15, 2020
TIME 7:27 AM IST
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Recession and extreme recession are the word and phrase that is getting factored in by the global financial markets. Gold and silver will continue to rise in recession, depression or whichever word/phrase is used to communicate. Sharp correction should be used to invest.
The world leaders are doing more harm to you and the average man by bailing out large corporations. Just ask yourself (a) Why have “Students loans” not been written off. A better more economically progressive option will be there if Students loans” were written off instead of bailing the large corporations. (b) Why cannot governments world over reduce the school fees and college education fee. This would also increase the disposable income of the common man. Most schools and colleges are either owned/funded by political elites for their own political motive. (c) Expenditure taxes or GST as we call in India is not reduced. (d) There is not reduction in the expenditure by the elected political classes. National balance sheet never reflect reduction in state expenditure. It is only the job of the voters to live a life of survival. The common man is treated as the “Cattle Class” by the world leaders. There is more and more growing awareness of these social issues. World will see new political alliances once a vaccine for corona virus is found. There will be emergence of new political leaders of the type of Hugo Chavez or right wing leaders are media words it. In the end gold’s rise is just the beginning and not the end. I will not be surprised if gold prices rise over forty percent in the next twelve months (in US dollar terms).
Trump did the right thing by closing the funding to World Health Organization (WHO) or CHO (Chinese Health Organization) as social media calls it. As of now there is a lot of speculation that Trump will not be reelected if the US presidential elections is held in November. A change in guard in the USA will only increase the pace of rise of gold and pace of rise of silver. I am assuming that from June the world will think less about corona virus and more about the economy and US presidential elections.
Everyone’s focus is on when spot gold prices will break past $1800. I know the trend is up. I am just looking at the correction low in case there is a knee jerk price fall. Most traders and most investors panic even on their long term fundamentally sound investments if there is a knee jerk flash crash. The best way to prevent a panic (in the mind) is to know the worst case short term lowest price.
The only lesson to the millennials from the corona crisis is “Learn to life a debt free life”. States will do everything to ensure that you be in debt from birth till death. Under the current circumstances and future circumstances it will become more and more difficult to lead a debt free life. Motivate yourself from your grandfather and great grandfather who all were debt free by leading a simple life.
COMEX GOLD JUNE 2020 – current price $1750.30
· Gold needs to trade over $1735-$1745 zone to rise to $1780 and $1830.
· Sellers will be there below $1742 and crash below $1725 today.
COMEX COPPER MAY 2020 – current price $231.90
· Copper can rise to $240.10 today as long as it trades over $229.
· Sellers will be there below $229.00 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.
Insignia Consultants does not have any branches in India.
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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: Wednesday, 15 April 2020 | E-Mail | Print | Source: GoldSeek.com
