MCX Metals Market Report: 1st April 2020

By: Admin
48973

Insignia Consultants

New Delhi

Wednesday, 01 April 2020

TIME 9:46 AM IST                         

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MCX METALS MARKET REPORT – stay indoor, maintain social distancing

Reduction or normalization in gap between spot gold and comex gold June futures is the prime reason for gold price to fall. Crude oil has fallen on expectation that the CVOID global pandemic is nowhere near topping out. Only China is on the verge of being normal. Chinese demand will be the key to copper and industrial price. Various US jobs numbers (Private ADP and nonfarm payrolls) will not have any impact on anything. I am very bullish on gold and silver in April to June quarter. Winners are those who have the physical gold and physical silver.

MCX Silver May 2020:  (previous day close/CMP Rs.39791.00)

  1. Silver needs to trade over 39200-39300 zone to rise to 40400 and 41000.
  2. Crash (till Friday) will be there only if silver trades below 39000.

Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: closed: Rupee is closed today, tomorrow and Monday.

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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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