US-China trade deal will only a temporary stop gap fix for global economy. Eurozone wants greater access to China. China will try to balance US and Eurozone as it will never want its large population to be used as a dumping ground. The trade between USA-China and Eurozone-China are not addressing long term key thorny trade issues. American politicians and Eurozone politicians want to use China for their short term political gains. Trade war theme going underground (if any) will only be short term. Gold will zoom to $2000 and more if and when the trade war theme starts to haunt the market once again.
Russia and China have all started their own alternative to global SWIFT banking system. This has been done to counter the threat of US imposed trade sanctions. USA can derail the banking system of any nation. More and more banks will soon join the alternate SWIFT of Russia and China. Gold has to rise even if the US dollar Index continues to gain. US dollar will only have a theoretical value. Real value or real purchasing power will remain in gold.
Silver is poised for a big $50-$60 one way move anytime. Trend for gold is down at the moment. A quicker pace of rise of crude oil can derail global economy and increase inflation and inflation expectations. Crude oil price trend in April to June quarter will be the key. The world is okay with Nymex crude oil till $68. Policy dilemma will be there if Nymex crude oil trades over $68 for a sustained period of time. The pace of rise/fall will affect interest rate expectation globally.
COMEX SILVER MAY 2019 - current price $1504.70
Bullish over $1505.50 with $1539.60 and $1556.00 as price target
Bearish below $1493.00 with $1483.50 and $1473.50 as price target
Neutral Zone between: $1493.00-$1505.50
? If silver falls today, then chances of $1460 will be very high.
? Fall will be swift and quick.
? Silver needs to trade over $1520 till tomorrow to be in bullish zone.
MCX Silver May 2019: (previous day close/CMP Rs.37612)
o Silver needs to trade over 37500 to rise to 38001 and 38236.
o Crash will be there below 37500.
o I prefer invest in silver at 36900-37000 zone with a stop loss below 36650 for 38200 and 38600 for Friday.
(prices in Indian rupee above)
HAPPY PROFITABLE TRADING
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. Website www.insigniaconsultants.in. Prepared by Chintan Karnani
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