MCX Silver Report: 20th September 2019

By: Admin
5 weeks ago
5277

Insignia Consultants

New Delhi

Friday, 20 September 2019

TIME 9:03 AM IST                         

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MCX SILVER REPORT

The reason why gold and silver did not crash yesterday after the FOMC is that there is physical demand. Asian are buying. Some of gold and silver traders are sitting on cash. They are waiting for the quarter to end. Investment demand in gold is upbeat. Speculation that USA and Saudi Arabia are getting to attack Iran (over the coming months) will result gold demand (in all forms) for the rest of the year. Once again focus will be on US-China trade talks. Weekend position squaring and rebuilding will increase volatility.

Silver December 2019:  (previous day close/CMP Rs.46666)

  1. Silver needs to trade over 45959 to rise to 47085 and 47559.
  2. Crash today will be there only if silver trades below 45959.
  3. Overall trend is bullish as long as silver trades over 45950-46200 zone.

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: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

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