Gold Report: 14th June 2019

Insignia Consultants

New Delhi

Friday, June 14, 2019

TIME 9:21 AM IST                       

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GOLD REPORT

Gold and silver are bullish at the moment. The attack on crude oil tankers of the Gulf of Oman is bullish for gold and silver. Even a pinch of an indication of an armed attack on Iran can result in gold prices rising to $1500 and $1700. Trade war issues, central bank buying are all here to stay. Russia-China moving away from the US dollar in bilateral trade will also support gold. The pace of rise is in question and not the actual rise. Most traders and investors are short minded and invest like a poker game. Think like a Buffet or a Rakesh Jhunhunwala (buffet of India) and then invest.

MCX Gold August 2019: (previous day close/CMP Rs.33073)

  • Key resistance is at 33143. A break of 33143 will result in 33271 and 33375.
  • Gold needs to trade over 32936 to be in intraday bullish zone.

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.Website www.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS

PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.

ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED

APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT

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