-- Posted Friday, 17 February 2006 | Digg This Article

 

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $548.00	COMEX SILVER MARCH FUTURE -- $936.00
EXPECTED TRADING RANGE
GOLD -- $536.00 -- $564.00	SILVER -- $900.50 - $972.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $210.35 - $225.60	NYMEX CRUDE OIL FEBRUARY - $55.40 - $62.20
MULTI COMMODITY EXCHANGE OF INDIA (MCX)
GOLD APRIL FUTURE/10 GRAMS	SILVER MARCH FUTURE/KG
Rs.7780 - Rs.8090	Rs.13195 - Rs.13630
COPPER MARCH FUTURE	CRUDE OIL MARCH FUTURE
Rs.208.20 - Rs.225.60	Rs.2670 - Rs.2760
Gold and silver pared most of its losses this week as April future rose to a high of $552.10 while silver march future rose to a high of $947.00 in Asian trade. There was lack of major markets moving which resulted gold and silver edging higher. Commodity prices are finding investors at lower levels on apprehensiveness that they can re start their rise any time. Gold and silver fell marginally over the past five trading sessions over the past two weeks which is a part and parcel of a long term bull rally. Whenever there is a secular bull run in any market they tend to ignore the bad news and every good news results in higher prices. This has happened with gold and silver over the past six months. However in the short term there may be correction in gold and silver prices.  The Iran and middle - east crisis is not yet over. In the first week of March we have the meeting of the UN Security Council on Iran and till then the diplomatic channel continues. The de-linkage between gold and the US dollar is expected to continue. There is physical demand at lower levels.  We have a long weekend. Monday US markets are closed while today there is an early close. A close below $550.00 for gold and a close below $926.00 for silver today will result in further losses next week to $520.00 and $878.00 next week else gold and silver have bottomed out.
GOLD
Gold needs to break $554.00 and $565.00 for further gains. On the lower side there are buyers under $540.00. The key support for gold are $534.50 and $525.00. The upside is open.
SILVER
Silver needs to break $952.00 for further gains to $977.00. On the lower side $926.00 and $903.50 will continue to be the support level.
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Happy Profitable Trading & A Great Long Weekend. We Will be back on Tuesday.
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 Friday, 17 February 2006 | Digg This Article

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