No affect in gold and silver price after the FOMC minutes. Traders are still hooked to US-China trade relations, slowdown and central banks bunking US dollar. Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts. In my view, Trump will start a currency war by forcing Federal Reserve to cut interest rates excessively. Gold in totality has to rise. Sharp corrections chances will be high till spot gold does not break and trade over $1560.
Currency markets, bond yields and precious metals prices are manipulated by Trump and his billionaire's club. Every tom, dick and harry all over the world opines that Trump will be reelected once again next year. Industries are getting prepared for the same. Nations are preparing for the same. Gold will rise and reach $2500 over the next three years.
Herd is heavily investing in gold. I will be a bit cautious investing in gold at current price of $1502. Apart from gold, there is no alternative to mass investors. Stocks are bumpy. Banks are charging you for savings. Treasuries are giving negative returns. There is no alternate to gold for investment.
COMEX GOLD DECEMBER 2019 - current price $1511.05
? Gold needs to trade over $1495-$1500 zone to rise to $1528 and $1543.
? Crash will be there below $1495 OR in case gold does not break $1528.
? There can be very sharp two way moves today.
COMEX SILVER SEPTEMBER 2019 - current price $1704.30
? Silver needs to trade over $1670-$1680 zone to be in bullish zone and rise to $1750.
? Crash will be there below $1670.
NYMEX CRUDE OIL (JULY 2019) - current price $55.69
? Crude oil needs to trade over $55.00 to rise to $58.20.
? Crash will be there below $55.00.
? Remain on the sidelines at current price.
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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