Thursday, 09 July 2020
TIME 9:39 AM IST
MCX METALS MARKET REPORT – maintain social distancing
MCX Gold August broke past Rs.49000 to reach a new historical high of Rs.49348 yesterday. MCX silver September broke past Rs.51000 to rise to Rs.51550 yesterday. To the clients in Diwali of 2019 I had advised to invest in gold and silver for Diwali of 2020. Gold 2020 Diwali price target of Rs.50672 is nearly achieved. Silver is on the way to 2020 Diwali price target of 61997. Our gold and silver investment call In Diwali of 2019 has been highly profitable for our clients.
Momentum for all metals in MCX is bullish. Crude oil is on the verge of a big one way price move. US weekly jobless claims and other US economic data releases can temporarily affect bullion prices.
MCX Copper July: Current price: Rs.485.25. Copper can rise to 493.30 and 500.50 as long as it trades over 479.70. Sellers will be there below 479.70.
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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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