-- Published: Tuesday, 8 April 2014 | Print | Disqus
Gold and silver prices are heavily manipulated by central banks. The real value should be at least thirty percent higher than current prevailing prices. We may give various reasons for the rise in prices of gold or for the fall in prices of gold. But the common man as well as analysts are mere pawns at hands of central banks and politicians of NATO members. They move the markets by future guidance which we take them as any text of a religious book. Later these central bankers never follow their future guidance on some alibi or the other. The timing of various comments and speeches by central bankers as well as key global leaders are just to influence the financial markets in the way they want. Global corporates and everyone in the planet was defrauded through Libor (London Inter bank offered) rates, even the London gold AM fixing as well as London gold PM fixing were fixed. The key people have never been arrested or the manipulating companies were not asked to shut down their operations. The reason "too big too fail". This has been a way for the small investors and will never ever change.
US interest rates are near zero. The savers do not even get a penny of interest on their bank deposit. If someone is over seventy with little savings, his savings is more or less zero. In fact everyone in the US is being indirectly charged for deposits in banks if we include inflation adjusted return. I see India also nearing towards two percent interest rates in the next five years and inflation around five percent and an inflation adjusted interest rate return being negative. Indian ten year treasury yields will form a long term top this year and thereafter a slow and steady decline. At least gold in spite and despite everything still gives positive return. (I am against gold future investing or gold ETF investing for people looking for gold as an alternate to treasury).
There will be spurts of big moves and thereafter a period of consolidation. If you get stuck in the spur of the moment, the chances of trading losses will be very high. In the absence of major market moving news, it will be a technical trade, with the US dollar as the key factor. Physical demand for gold and silver in India should rise as the month progresses.
Remain on the sidelines.
TECHNICAL VIEW
COMEX GOLD JUNE 2014 – current price $1298.80
Bullish over $1296.00 with $1307 and $1318.50 price target
Bearish below $1292.00 with $1284 and $1275.40 as price target
Neutral Zone between $1292-$1296
- Gold needs to break and trade over $1306.50 to target $1319
- Initial support is at $1296 and there will be sellers only below $1296
MCX GOLD JUNE - prices in Indian rupees below
Gold can rise to 28555 and 28765 as long as it trades over 28200. There will be sellers only below 28200. MCX will open at 5:00 pm IST 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. Prepared by Manan Somani
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
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UK session starts around 1:30 pm Indian Standard Time (+5:30 GMT) -- after the release of LME daily inventories
US session starts at 6pm pm Indian Standard Time (+5:30 GMT)
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
APPROPRIATE STOP LOSSES PER LOT IN US DOLLARS ON THE TRADING CALLS GIVEN IN THIS REPORT
COMEX GOLD – $15-$17
COMEX SILVER: $25-$30
COMEX COPPER: $3
NYMEX CRUDE OIL: $0.60
SPOT SILVER: $0.25
SPOT GOLD: $15-$17
THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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-- Published: Tuesday, 8 April 2014 | E-Mail | Print | Source: GoldSeek.com
