-- Published: Monday, 20 April 2020 | Print | Disqus
Today and tomorrow’s close is the key to gold prices. If it falls till tomorrow then gold will move into a short term bearish phase. If not then gold prices will form a medium term bottom. Investment demand is there for gold. But investors will wait if gold prices fall today.
Silver, copper and industrial metals will see higher demand from factories as more and more nations open up. World will open and move to near normal by next month. Corona virus cases will come and go. Governments (in future) will be closing clusters where the spread is more than normal. There will be a norm or normal for corona virus just like we it for dengue and H1H1. (In India dengue, H1N1, malaria happens every few months. State government and central government ignore it unless cases break past the so called norm/normal. The sad part is that lack of garbage collection is a big reason for so called seasonal diseases in India. Municipal corporations just reply that do not have adequate funds to pay its workers. The same will be applied to corona virus in India and world over.)
Political leaders and analyst are least concerned with two percent death rates of any disease. They are trying to give all kinds of reason to justify their views. Our political leaders are unhappy that suicide rates are down or road accidents are down. They are comparing corona virus death rates to road accident death and suicides. The motives of these politicians are now out. I see more and more bond traders switching to gold, bitcoin and crypto currencies. Remember that bitcoin is not shitcoin. It is here to stay. RIP treasuries.
COMEX SILVER MAY 2020 – current price $1542.00
· Silver needs to trade over $1474 this week to rise to $1640 and $1724.40.
· Sellers will be there below $1519 and crash below $1503 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
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NOTES TO THE ABOVE REPORT
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-- Published: Monday, 20 April 2020 | E-Mail | Print | Source: GoldSeek.com