Asian Metals Market Update: Covid Cases Growing Once Again

December 7, 2021

The only reason (in my view) as to why gold and silver are not rising is that traders are preferring to average it out in their crypto currency investment or meet margin calls in crypto currency investment. There is no other reason. Crypto currencies are not yet in a medium term bearish phase. As long as Ethereum (eth/usd) does not fall below $2800 and trades below $2800 for over a week, crypto currencies are bullish in the medium term to long term.

Community transmission of coronavirus has started once gain in different parts of the globe. Every day covid cases are rising in almost every nation. Investment community has a tendency to react in a hyper way. The hyper bullish sentiment in stocks can pave the way for hyper bearish sentiment if “Community transmission of coronavirus becomes uncontrollable”. Gold can return to a 2020 way of rise if “Community transmission of coronavirus becomes uncontrollable”. The next two weeks are very crucial for global financial markets w.r.t covid transmission cases. Volatility will rise.

US economic data releases will start from today. It is remains to be seen if they can be trend changing. 10th December (Friday) to 16th December (Thursday) should see trend changing price moves. (US inflation numbers plus central banks meeting i.e., FOMC, bank of England and European central banks are there). Technical price close of 16th December should continue till 5th January 2022. This will be for all asset classes and not just limited to metals and energies. I want spot gold price to close over $1794 on 16th December. I want spot silver price to close over $23.40 on 16th December. Yeah for continuance of short term bullish trend gold has to trade over $1794 and silver has to trade over $23.40. Medium term to long term bullish trend is intact.


Yesterday our bullish view in gold and silver got bombarded. I will prefer to remain on the side-lines today. Use any two percent or more fall in gold and silver to invest. Industrial metals will remain firm over supply fears. Crude oil is bullish but will be very volatile. Natural gas should form a short term bottom very soon.

Spot Gold:

  • Spot gold has to trade over $1781 to be in an intraday bullish zone and rise to $1794 and $1805.60.
  • Gold will crash to $1761 and more if it trades below $1781 after both AM Fix and PM Fix.

Spot Silver: Spot silver has to trade over $22.10 to rise to $23.56. There will a sell off only if silver trades below $22.10.


Nearly 40 percent of all gold ever mined was recovered from South African rocks.
Top 5 Best Gold IRA Companies

Gold Eagle twitter                Like Gold Eagle on Facebook