Insignia Consultants
New Delhi
Wednesday, 26 February
2020
TIME
10:00 AM IST
----------------------------------------------------------------------------------------------------------------
MCX
METALS MARKET REPORTGold and silver has opened with a very big lower gap for a second consecutive day. Corona virus continues to make inroads in more and more nations. I am bearish on crude oil on demand fundamentals. If Europe or Eurozone moves into recession and China also slows, then all industrial metals should see renewed sell off. Copper has withstood the sell off. Copper will be vulnerable to very sharp corrections anytime if and when economic data releases comes in the lower side of expectation.
A childhood very close friend of mine asked me yesterday whether he can sell his family’s inherited gold and buy later at a lower price: My answer is a big no. My experience is that gold sold is mostly never brought. The money from sold gold is frittered away in making useless investment. Anyways I do not foresee physical gold prices falling below Rs.37000 per ten grams in the next twelve months with inertia as the upside potential.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.7850: Trend is down. There will be a quick rise if rupee trades over 71.8550 to 72.0225 and 72.2525. Crash or sell off will be there below 71.6050.
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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
Disclosure: Members, employees, directors, clients and all other people
associated with “Insignia consultants” do trade in MCX metals and energies.
They may or may not have positions on the trading strategies mentioned in this
report. They may also have open positions in MCX metals and energies futures in
trading strategies other than those mentioned in this report.
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE
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