Wednesday, 12 February 2020
TIME 9:46 AM IST
MCX METALS MARKET REPORT
Gold and silver have opened flat. Copper, crude oil and natural gas have opened higher. Stock markets are bullish on global optimism. Cautious is needed in all metals, energies and even stock market investment. Federal Reserve chairman testimony failed to have any impact. This week’s trend is covering demand. Next week’s trend will be real trend or sustainable trend in all metals and energies.
MCX Nickel February 2020: (previous day close/CMP Rs.950.70):
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.2175: Crash or sell off will be there only if rupee trades below 71.1550 to 70.0775 and 70.9650. The recent range trade will be broken soon and a new range will be formed. Physical gold and silver dealers need to be watch the rupee and hedge in rupee futures on any signs of weakness.
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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 SPECIFIED
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