MCX Metals Market Report: 14th February 2020

By: Admin
28471

Insignia Consultants

New Delhi

Friday, 14 February 2020

TIME 9:46 AM IST                         

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MCX METALS MARKET REPORT

Monday USA is closed. Traders will take positions for Tuesday. Intraday volatility can rise. Focus of world markets will be on spread of corona virus. US January retail sale numbers will also affect all metals tonight. China will reopen fully from next week. Chinese schools and colleges will reopen next week.

Perfect call given on 2019 Valentine day.

I had asked everyone, including friends, clients, relatives and on reports to give gold jewelry as valentine day gift. MCX Gold futures prices have risen from Rs.33258 to Rs.40600 as I prepares this report. This a twenty two percent rise year on year.

This year my call is to give Silver and Platinum jewelery as Valentine day gift. I am sure silver and platinum prices will rise over twenty two percent by 2021 Valentine day.

As an investment consultant, pure precious metals jewelery should be given to your near and dear one atleast once a year. The double benefit will be in the form of a long term investment. If you cannot afford, then these day three grams gold rings are easily available or a fifty gram pure silver chain is easily available.

Natural gas 28th February 2020 (previous day close/CMP Rs.130.50):

  1. NG can rise to 137 as long as it trades over 128.90.
  2. Crash will be there below 128.90.
  3. Better to be day traders in NG.
  4. Momentum and trend is very bearish.
  5. I do not expect March futures to fall below 115 easily. There will be a trend reversal to 145 and 160 once and may be then a big fall to 100.

 

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 71.3175: 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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