Asian Metals Market Update for 23rd September

A minimum one percent interest rate will be cut in the next six months by the Federal Reserve. There can be more if US economic soft-landing concept is replaced by recession. “Soft landing” is just a narrative introduced by economist and central banks to prevent a long recession in stock investment and all asset classes. (except bonds). There is a very thin theoretical difference between “Soft Landing”, “Hard Landing” and “Recession”.

What no media tells us, is the rise in “Unemployment Rate” due to continued rise in migrant inflows” in USA, UK and Eurozone. Migrants are rising. They are counted for calculation of unemployment rate. “Unemployment Rate” is bound to rise even if US economy sees firm growth due to good for nothing migrant inflows.  A 150 bps more interest rate cut in the next twelve months will be hyper inflationary for the world as speculators jerk up price of everything. Every central bank will be cutting interest rates and not just Federal Reserve. Hyper global growth in the next twelve months will be at the cost of hyperinflation.

Gold and silver are rising over unknows fears of the extent of escalation of Israel conflict. Russia-Ukraine war is not yet over. Uncertainty is there on the next president of USA. Hyperinflation earliest indication will be there if there is a big rise in October month in copper, base metals and crude oil and natural gas.

Position squaring and rebuilding will be there for US September nonfarm payrolls on 4th October. Quarter end position squaring and rebuilding will continue this week too.

It is all about momentum and profit taking (if any) till 30th September. China is closed from 1st October to 7th October. Economic Stimulus by China is expected to be announced by China by 7th October.

COMEX SILVER DECEMBER 2024 – current price $3144.50

• Key weekly support: $2963.50, $3007.00, $3062.10 and $3109.30
• Key weekly resistance: $3236.50, $3293.50, $3381.70 and $3525.00
• Silver December can rise to $3525.00 and more this week or next week as long as it trades over $3040.00.
• Crash or sell off will be there if silver December does not break $3256.70 by 4th October close.

Disclaimer

• The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have deemed to accrue to me out of providing such investment ideas.
• The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.
• I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.

Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.

NOTES TO THE ABOVE REPORT

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5. THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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8. TECHNICAL ANALYSIS IS DONE FROM TRADINGVIEW SOFTWARE