-- Posted Friday, 11 February 2005 | Digg This Article

 

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- 420.10	COMEX SILVER MARCH FUTURE -- 705.0
EXPECTED TRADING RANGE
GOLD -- 414.00 -- 429.0	SILVER -- 670.00 - 740.00
GENERAL MARKET CONDITIONS
Precious metals sky rocketed due to public admission by North Korea that it has nuclear weapons along with the developments in Iran. We have been mentioning all throughout the second half of 2004 that Iran, North Korea, Syria and Nigeria are in the hit list of the US president and that they will be attacked irrespective of the fact whether it has support of global leaders or not. The US on the pretext of national security can make pre emptive strikes to any nation which has nuclear weapons or possesses capabilities to build one.  This will result in greater demand for precious metals as it is best and safest hedge against such developments. Consumption demand for crude oil is going to increase in 2005 and that will result in the crude prices remaining firm. This should further help gold bulls. Yesterday all the technical resistances were broken as if they never existed. All the stop losses were hit and the carry on trade seems to surface for the first time in 2005.  Overall the markets are still directionless with an upward bias.
GOLD…..
Gold now targets $428 - $430 zone. On the lower side as long as $415 holds the downside risk remains limited.
SILVER…..
Silver could rise as high as $750 if there is break of $723. On the lower side as long as $668 holds the downside risk remains limited.
Happy Profitable Trading
FOR MCX REPORTS ON GOLD, SILVER AND CRUDE OIL PLEASE IN OUR WEBSITE
FOR A FREE TRIAL.
Disclaimer : Any opinions as to the commentary, market information, and future direction of prices of
specific currencies and precious metals 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.
Prepared By Chintan Karnani. Web Site:www.insigniaindia.com

-- Posted Friday, 11 February 2005 | Digg This Article

1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email: chintan@insigniaindia.com

Previous Articles by Chintan Karnani, Insignia Consultants

© 1995 - 2019

Live GoldSeek Visitor Map | Disclaimer