Monday, 01 June 2020
TIME 9:55 AM IST
MCX METALS MARKET REPORT – maintain social distancing
Silver futures broke past 50,000 on Friday and is trading over 50,000 currently. Crude oil, copper and all industrial metals have risen in the first day of June. Various US jobs numbers and other US economic data releases are there this week. These can be trend changing. Keep a close watch on the civil strife in USA. This can have a big short term impact on stocks, commodities and energies. Physical silver demand should be far bigger than gold. Everyone buys in a rising price trend. No one buys when prices consolidate. Silver jewelery demand should see a big rise for the next two weeks. Some relief for silver jewelers. Physical silver demand for investment purpose should rise in a big way in June.
MCX Nickel June Rs.951.60: Nickel can rise to 969 and 990 as long as it trades over 935.90.
Daily view on US Dollar-Indian Rupee (usd/inr) spot: Current price: 75.2925. Rupee can fall to 74.9050 as long as stock markets close and US dollar Index continues to fall. Rupee has to trade over 75.4950 to rise further.
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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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