-- Posted Thursday, 9 February 2006 | Digg This Article

 

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $562.30	COMEX SILVER MARCH FUTURE -- $955.50
EXPECTED TRADING RANGE
GOLD -- $548.00 -- $585.00	SILVER -- $926.00 - $995.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $226.60 - $234.60	NYMEX CRUDE OIL FEBRUARY - $61.20 - $66.27
MULTI COMMODITY EXCHANGE OF INDIA (MCX)
GOLD APRIL FUTURE/10 GRAMS	SILVER MARCH FUTURE/KG
Rs.7900 - Rs.8240	Rs.13280 - Rs.13780
COPPER MARCH FUTURE	CRUDE OIL FEBRUARY FUTURE
Rs.224.20 - Rs.250.40	Rs.2752 - Rs.2970
GENERAL MARKET CONDITIONS
Gold and silver bounced back after yesterday’s losses as Gold April future rose to a high of $562.70 and silver March future rose to a high of $956.00. The Japanese are seen lifting gold, silver and other commodities.   The Bank of Japan will keep pumping cash into the economy and hold interest rates at almost zero as policy makers gather more evidence that deflation has ended. The central bank has vowed to stick with its policy until core prices, which exclude fresh food, stop falling for at least a few months and policy makers are sure they won't resume sliding. The bank also needs to be confident about the overall strength of the economy. Bank of Japan will keep printing yens and gold and silver will rise further as Japanese funds invest more in assets which offer them instant returns. It was all about Japanese money in commodities and will continue to be Japanese money in commodities. Other investors from various countries later invested in gold and silver to swim with the tide.  The situation with Iran is calm at the moment and there is lack of market moving news geopolitical news. There is the US 30year treasury yields auction today which will add volatility to the markets today.
GOLD
Gold is back to usual territory and targets $580 and $600.00 once again. On the lower side $548.00 and $540.00 are strong support. A short term double bottom has been formed in the charts at $546.00.
SILVER
Silver is once again within firing distance of $1000.00 and $1050.00. On the lower side $952.00 and $926.00 are the key support levels.
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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.

-- Posted Thursday, 9 February 2006 | Digg This Article

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