Insignia Consultants
New Delhi
Tuesday, 17 March 2020
TIME
8:47 AM IST
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MCX METALS MARKET REPORT Yesterday gold-silver price difference started from Rs.200 and rose over Rs.3000 during the day. Closing price difference was at Rs.3311. Gold will be the investors and traders choice and not silver. Yesterday’s price crash for gold and silver should result in rise in jewelry demand in India. Jewelers were reeling under the higher price shock till last week. Finally some relief for jewelers.
Volatility can rise for another day. Copper recovered from the lows. Nickel also recovered from the lows. Volatility in global financial markets is affecting MCX metals and MCX energies. Companies with large expenditure on petrol and diesel should hedge in MCX future. The strange part is India still does not permit trading in far dated crude oil futures and natural gas futures even as MCX near eighteenth anniversary. Trade very carefully.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 74.0050: RBI did not cut interest rate yesterday despite all kinds of speculation. Rupee is still overvalued in REER terms. Some weakness till 75.0000 should not worry corporates. By now most companies have hedge their forex corporate debt. With zero interest rates worldwide, it is very easy to get a forex debt. Technically 73.8050-74.5650 is the wider trading range. Crash till Friday will be there below 73.8050.
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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.
Insignia Consultants does
not have any branches in India.
Insignia Consultants does
not have any marketing agents in any city in India.
NOTES TO THE
ABOVE REPORT
ALL VIEWS ARE
INTRADAY UNLESS OTHERWISE SPECIFIED
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PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY
CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA
DAY TRADES TO LIMIT LOSSES.
THE TIME GIVEN IN THE REPORT IS THE TIME OF
COMPLETION OF REPORT
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