Postponement of US-China trade deal to December should be bullish for gold and silver. I will prefer a buy on dips strategy as long as gold trades over $1475 for intraday. Use sharp dips to invest in silver for month end with a stop loss below $1660. Copper and crude oil should fall on speculation of trade talk.
U.S. lawmakers seek to ban federal pension fund from investing in China: This is the real big news. A group of U.S. lawmakers introduced legislation that would block a federal retirement fund from investing in Chinese stocks. Our View: Trade deal will not end the trade war. Buy lots of physical gold and physical silver. Increase gold investment to fifty percent of your contingency fund investment. I hope everyone has a contingency fund. Better to invest the cash of contingency fund in gold as gold is more than cash.
I do not think bank of England will have any impact on the currency markets or cable. Cable is bullish at the moment.
COMEX GOLD DECEMBER 2019 - current price $1492.20
Bullish over $1489.10 with $1501.20 and $1513.30 as price target
Bearish below $1486.10 with $1480.80 and $1472.20 as price target
? Gold will zoom if it manages to trade over $1496 to $1509 and $1519.
? Crash will be there if gold trades below $1486 today.
COMEX SILVER DECEMBER 2019 - current price $1761.70
Bullish over $1750.50 with $1792.60 and $1821.60 as price target
Bearish below $1730.50 with $1716.60-$1703.60 as price target
? Silver needs to trade over $1750 to rise to $1800 and $1835.
? Crash or sell off will be there if silver trades below $1750 today.
NYMEX CRUDE OIL (SEPTEMBER 2019) - current price $56.30
Bullish over $56.30 with $57.80 and $59.00 as price target
Bearish below $55.70 with $55.10 and $54.30 as price target
? Crude oil needs to trade over $56.00 to rise to $57.80 and $59.20.
? Crash will be there below $56.00 to $55.10 and $54.30. .
COMEX COPPER DECEMBER 2019 - current price $266.70
Bullish over $268.00 with $272.20 and $277.50 as price target
Bearish below $266.00 with $263.90 and $261.20 as price target
? Failure to break $272-$273 zone by 15th November will result in a sell off to $252.30.
? Prices moves in copper will be big.
? Day traders watch $266. Copper can move $7-$8 either side anytime from $266.
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
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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