Insignia Consultants
New Delhi
Friday, 20 December 2019
TIME
8:50 AM IST
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MCX METALS MARKET REPORT
Gold and silver rose sharply in MCX
yesterday night as rupee weakened against the US dollar in New York and short
covering. Traders will start taking positions for New Year. Internet was closed
in a lot of parts of India yesterday. Trading volumes will reduce if internet
is closed in different parts of India. If trading volumes reduce, then prices
moves in all metals and energies can be sudden. |
CLOSING MCX SPREAD/BADLA
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MCX FUTURE
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19-Dec-19
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18-Dec-19
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Gold
April--Gold Feb
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52.00
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58.00
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Silver
May-Silver March
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461.00
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414.00
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Crude
oil feb-Crudeoil Jan
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-5.00
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-6.00
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Copper
Jan-Copper Dec
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5.15
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4.90
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Zinc
jan-Zinc Dec
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-1.25
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-1.00
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Lead
jan--Lead dec
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-0.95
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-1.30
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Nickel
jan-Nickel dec
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-0.90
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-2.50
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NG
jan-- NG dec
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0.30
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-3.50
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Prices of MCX futures are in Indian rupees above)
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24th December to 26th December global trading volumes in all metals and energies will be very less as Christmas is celebrated in different parts of the year. One needs to trade over carefully in MCX on 24th December and 26th December. Low risk traders should trade for intraday till 3rd January 2020. Physical dealers of gold and silver should hedge their buys in MCX futures or comex futures. Also hedge the rupee portion separately if you are hedging gold and silver in comex futures.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.1800: So far Modijis response to mass unrest has been muted. I expect rupee to weaken to 71.5600 and 72.0225 by 1st week of January if unrest continues. Technically a break of 71.2550 will result in 71.5600 and 71.7250. On the lower side as long as usd/inr trades over 70.9600-71.0000, downside risk will be limited.
(For Trading Report, Whatsapp @9311139549)
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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TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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