-- Published: Wednesday, 1 July 2020 | Print | Disqus
Industrial metal demand and energies demand will be much higher than the second quarter. World will never be in lockdown mode for the rest of the year. Cities, localities, districts may be locked down but never a nation. Demand for metals and energies will be there. Pace of demand will vary each month in every nation.
Human have to live with COVID. Wearing mask and other precautions need to be taken. Trading and a few professions allow working from home. Most people have to get out from their house for work and to purchase other necessities. The need of the hour is to save as much as we can. Get maximum trading profit and maximum investment profit with least risk. Summer travel vacations needs to be postponed for next year. Remember you will not die if you postpone vacations for another year. Stay debt free and invest in gold even at $1800. Gold is very cheap at $1800 for a long term investor.
US June private ADP numbers have to beat street expectations by a big margin to cause a correction in gold and silver. There can be a correction and not a crash in gold and silver for the rest of the month. Zero interest rates and free money will ensure precious metals, stocks energies and bond yields and selected crypto currencies will all rise at the same time.
If you do not diversify into crypto currencies at current prices, you will miss once in a lifetime opportunity. Five percent of your medium term investment have to be been selected crypto currencies. I am gold bug. I am silver bug. Now I am also a crypto bug. Indian should also invest in crypto currencies as fear of arrest is not there.
COMEX SILVER SEPTEMBER 2020 – current price $1863.70
· Silver needs to trade over $1826 to rise to $1997 and $2056.
· Sell off will be there below $1826.
· Trend is very bullish.
MCX GOLD AUGUST 2020 – current price Rs.48800
· Gold needs to trade over 48787 today to rise to 49194 and 49858.
· Sellers will be there if gold trades below 48787 to 48590-48415 and 48097.
· If gold trades over 48787 till Friday then chances of 50476and more by Monday will be very high.
· Watch 47787 all the time. Gold can move 1000-1250 either side anytime.
· Technically over brought.
(prices 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
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THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Wednesday, 1 July 2020 | E-Mail | Print | Source: GoldSeek.com