-- Published: Thursday, 10 October 2019 | Print | Disqus
Lack of alternate investment avenues and fear of more recession has resulted in investors flocking to gold and silver. Even bitcoin and other crypto currencies are selling off. Investors and traders have not choice but to invest in gold and silver. Currency markets are not very volatile. Traders invest in investment instruments which are highly volatile. Gold and silver are highly volatile apart from a safe haven. Gold and silver bulls have nothing to fear. However gold and silver price rise is not backed by higher physical demand.
Short term direction of gold price will be dependent on US-China trade deal. If there is no trade deal by tomorrow then gold prices are on the way to $1600 and more. A US-China trade deal (if any) can result in a temporary fall and then the rise. Be prepared for some explosive one way price moves in gold and silver anytime by Monday.
COMEX GOLD DECEMBER 2019 – current price $1513.90
· Gold needs to trade over $1508-$1510 zone to rise to $1523 and $1533.
· As long as gold trades over $1500, downside risk will be limited.
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: Thursday, 10 October 2019 | E-Mail | Print | Source: GoldSeek.com