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http://www.brotherjohnf.com/asian-metals-market-update-may-22-2017/ – Asian Metals Market Update: May-22-2017. —
news.goldseek.com / By: Chintan Karnani, Insignia Consultants / 22 May 2017
There are lots of Federal Reserve speakers this week as well as economic data releases. These numbers will be taken seriously by the markets as they are pre FOMC data. The FOMC meet is on 14th June. UK elections are also nearing. Lowering of North Korean risk and other Asian geopolitical risk will be bearish for bullion. Demand is not that much. $1250 is the middle of the road price gold. +/-$50 either side move can happen very quickly. Gold should delink from currency price moves this week (as observed last week).
Silver is stuck between the devil and the deep sea. In the short term, silver is not yet out of the bearish shadow. Low silver demand is preventing silver prices from a rise. The price of silver has been subdued to manipulation by a cartel of large banks. Silver is a great long term investment but I see a big price rise only from 2019. Between now and end 2018, $1470 and $2290 are the key break points. In the short term silver can see rallies. But to attract long term investors silver prices have to show a solid price bottom formation.
Long term copper is also bullish as supplies move into a deficit zone from the last quarter of the year. In the short term copper can see sharp corrections, depending upon moves in the currency markets. As long as copper trades over $236 chances of a rise to $323 will be very high for the rest of the year. The risk to copper prices will be a war with North Korea as it will adversely affect Chinese exports and Chinese demand.
The post Asian Metals Market Update: May-22-2017 appeared first on Silver For The People.
–(Published @ May 22, 2017 at 02:20PM by www.bitcoins.am™ Instant Real-time Bitcoin News Aggregation Source- From: ) #bitcoinnews
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