MCX Metals Market Report: 13th February 2020

By: Admin
111226

Insignia Consultants

New Delhi

Thursday, 13 February 2020

TIME 9:27 AM IST                         

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MCX METALS MARKET REPORT

Gold and silver rose as the number of new coronavirus cases (In China) at the outbreak’s epicentre jumped sharply. Crude oil, copper and industrial metals can fall sharply if new corona virus does cases does not fall. I will prefer to remain on the sidelines in crude oil and copper today.

The world is in moving in uncertain period. Volatility will be very high. Sports events, trade shadows and other events which are supposed to happen in China are been postponed. Even the mobile world congress in spain has been cancelled. There will be a spill over long term impact on global economy. No one really knows the real impact which the corona virus will have.

This Valentine give a silver jewelry or a platinum jewelry. I am sure the value appreciation in next valentine day will make you happy. (Last year I had given a call to give gold jewelery as valentine day gift. Rest is history).

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.3075: Rupee will break free from 71.10-71.60 wider consolidation range and form a new range. Immediate resistance is at 71.3750. A break of 71.3750 will result in 71.5125.

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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

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