3rd April: Silver Report

Insignia Consultants

New Delhi

Tuesday, April 03, 2018

TIME 07:43 AM IST                       

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SILVER REPORT

Gold rose on safe haven demand on the back of sell off in stock market sell off. Chinese retaliation on American goods will ensure that gold continues to remain firm. Gold will rise as long as uncertainty over the bullish trend in global stock market is there. Physical demand in Asia will rise as laggards buy gold. I also see more and more new investors starting to invest in gold. Silver will catch up later than sooner.

Industrial metals will be affected by trend of global stock markets. I will prefer to use sharp dips till Friday to invest for the month end. Asian demand for industrial metals will be on the higher side. Industries are not building excess inventory of base metals over fears of global stock markets moving into a short term bearish phase.

I expect intraday volatility to rise. The current volatility is a day trader’s paradise but a nightmare for short term investors. There is a big gap between closing prices and opening prices. Low risk traders should not leave open positions for next day.

COMEX SILVER MAY 2018 – current price $1655.00

Bullish over $1627.00 with $1669.80 and $1688.30 as price target

Bearish below $1612.00 with $1603.00 and $1596.00 as price target

  • Silver can rise to $1680 and $1696 as long as it trades over $1640-$1645 zone.
  • Sellers will be there below $1640.

HAPPY PROFITABLE TRADING

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, crypto 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. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

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UK session starts around 1:00 pm Indian Standard Time (+5:30 GMT) — after the release of LME daily inventories

US session starts at 6pm pm Indian Standard Time (+5:30 GMT)

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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