After today's US November nonfarm payrolls, traders will take positions for next week's FOMC meet. NFP will give hint on next week's FOMC meet. Look into US economy and global economy in totality and not just from interest rate perspective. UK election and December 15 deadline for US-China trade deal will also be under close scrutiny by traders and investors alike.
US president Trump and his impeachment news needs to be closely watched. The nearer the process for Trump's impeachment, the higher will be gold and silver. Impeachment can supersede every other factor if it is serious.
COMEX GOLD FEBRUARY 2020 - current price $1480.35
? Gold will break free from $1450-$1500 wider trading range and form a new range by next week.
? I am bullish on gold and will prefer to use sharp dips (if any) to invest for end January with a stop loss below $1410.
? Trade deal between USA and China will result in a correction and not a short term bearish trend.
MCX Silver March 2020: (previous day close/CMP Rs.44515.00)
Silver needs to trade over 43900-44200 zone (till next week) to rise to 45650-46380. Crash or sell off will be there below 44160 to 43949-43580 and 43138(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. Website www.insigniaconsultants.in. Prepared by Chintan Karnani
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NOTES TO THE ABOVE REPORT
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