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Asian Metals Market Update: Fed speak this week

There will be another wave of rise if gold and silver continue to rise between London AM Fix and London PM Fix. Trend between AM fix and PM fix is the key for gold and silver not just today but for the rest of November. A higher price gap between AM fix and PM fix will be bullish for bullion for the subsequent trading day and vice-versa. If gold and silver manage to get a daily close over $1978 and $2560 on Tuesday, then chances of $2000 and $2800 will be very high by 24th November.

There are lot of Federal Reserve speakers speaking this week. They will keep on manipulating the global financial markets. The winter season manipulation by way of various speeches by central banks officials starts from this week and will continue till end January 2022. Just ignore them and focus on your own investments and your trading. They were all in chorus saying that inflation is transitory all through the summer. The reverse happened. Barking dogs seldom bite. Other than bank of England, the interest rate bite will not come in easily. Volckerism is confined to ashes. Now a days is voyeurism on money supply which creates frequent asset boom-asset bust price moves. Gold is still the long term best hedge against central banks voyeurism on interest rates.

One line price target if gold and silver rise till 31st January 2022

Comex Gold February 2022:  Gold has to trade over $1770.70 on daily closing basis to rise to $1966 and $2064 and $2179.

Comex Silver March 2022: Silver has to trade over $2333.60 on daily closing basis to rise to $2864 and $3192.60.

2022 will be a year when global interest rates start to rise. Post-covid liquidity will reduce significantly and some other unknown factor will dictate global financial markets. News, worry and hurry dictate the trading strategy of retail traders and for some hedge fund managers as well. In bullions context it will all boil down to whether gold price will be able to trade over $2000 for a few weeks to a few months. If not then short sellers will be on the rise.

I believe that silver’s demand in equipment’s to beat climate change will prevent price from a significant fall next year. Our ancestors were way ahead of us when they recommended using silver glass to drink water or silver utensils to have food. Silver in daily usage and silver in equipment’s is the best way to fight climate change and various new diseases induced by climate change.

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