-- Posted Wednesday, 4 May 2005 | Digg This Article

 

GOLD	SILVER
COMEX GOLD JUNE FUTURE -- 429.90	COMEX SILVER JULY FUTURE -- 695.50
EXPECTED TRADING RANGE
GOLD -- 427.0 -- 435.0	SILVER -- 680.00 - 708.00
GENERAL MARKET CONDITIONS
Gold fell ahead of the Fed meeting while silver was steady yesterday. Gold fell despite a weaker US dollar. After announcement of Fed stance on interest rates, Silver July futures shot to $694 and also fell to a low of $686 in a span of minutes while gold was slowly and steadily edging higher.  The Fed meeting turned out to be a damn squib as the US dollar weakened further and precious metals were off their lows. The Fed maintained its measured phrase in its meeting after increasing the interest rates by a quarter of a percentage. Fed has also maintained its inflationary vigilance and is clearly recognizing the economic slowdown.  Markets are now back to square one. The US dollar weakness is here to stay but for the April payroll numbers on Friday which will set the direction for the US dollar for the rest of the month. A break of the current trading range is imminent.
GOLD…..
A clear break of $431.20 will result in $434.50 as the next target. On the lower side $428.20  is the support zone.
SILVER…..
Silver has room for further gains to $708 if there is a breach of $700. On the lower side $683 is the support zone.
Happy Profitable Trading
To receive the full subscription report, please visit www.insigniaindia.com.
For Multi Commodity Exchange of India (MCX) reports on gold and silver and crude
oil register at wwww.insigniaindia.com.
Disclaimer : Any opinions as to the commentary, market information, and future direction of
prices of specific currencies, precious metals, base metals, or equity indices 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 Wednesday, 4 May 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