Gold will break free from the recent consolidation phase and form a new range. Silver is bullish. Copper and crude oil are in a neutral zone to bullish zone. Better to remain on the sidelines today. A weaker US dollar will ensure that all metals rise before close.
Trump has ended special status to Hongkong. (to me Hongkong is a part of China just like Palestine belongs to Palestinians and not to Israel.) China has vowed for a tit for tat retaliation against USA. Trump is not interested trade talks with China. China is deliberately severing its relations with its neighbours, USA and its NATO allies. It is a deliberate attempt by China to have a trade war, armed war and a digital war with most nations in Asia, North American, Western Europe, UK and Australia. Chinese threat will continue. The severity of the Chinese threat will increase volatility in financial markets. One needs to guage the severity of Chinese threats. China has created a new trade bloc which will uproot NATO over the coming years. USA/NATO are aware of this. The difference is that threat of trade sanctions or alienation will not work with China. US dollar demise is very near. Gold and precious metals is the only long term safe haven.
Federal Reserve beige book today will tell us the state of US economy. Only various US jobs numbers are affecting gold, silver and currency markets.
To me debt and death have been synonymous words. COVID has changed everything. Investors and traders have ignored massive nations debt, corporate debt and retail debt. There are very few "too big to fail" nations. Nation will default on their debt. There will be an increase in corporate debt default. Credit debt default will increase multifold for the rest of the year. How can stock markets rise when global debt default will only rise over the coming months. This is a bubble. Only way to
COMEX SILVER SEPTEMBER 2020 - current price $1963.70
? Silver can rise to $2024 and $2200 today as long as it trades over $1920-$1930 zone.
? Silver will sell off only if $2024 is not broken by tomorrow.
MCX SILVER SEPTMBER 2020 - current price Rs.52890.00
? Silver can rise to 55000 as long as it trade over 51900.
? Corrections upto 51900 are a part of the bullish trend OR sell off will be there only if silver trades below 51900.
? Trend is very bullish.
(price 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. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani
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NOTES TO THE ABOVE REPORT
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