-- Posted Friday, 8 December 2006 | Digg This Article

GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $637.30	COMEX SILVER MARCH FUTURE -- $1405.5
EXPECTED TRADING RANGE
GOLD -- $628.50 -- $655.00	SILVER -- $1356 - $1456.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $309.60 - $319.50	NYMEX CRUDE OIL  DECEMBER - $61.25 - $64.80
GENERAL MARKET CONDITIONS
Managing volatility is the key in such volatile markets.  Yesterday selling seemed that funds have a made excellent profits in gold and silver trade and they just booked some profits at the year comes to an end. Gold and silver fell only to recover quickly as long term investors entered. Silver’s technical correction is over now and it should edge higher.   As we move near Christmas trading volumes will and volatility will increase. Low stop losses are bound to be hit. It will be difficult to find an intra day top as well as bottom. In 2005 we had only one main exchange that is Comex now we have CBOT giving a run for money to Comex members. Volumes will be divided among these two exchanges which in turn will increase to the volatility. Medium to long term bullishness remains intact for gold as well as silver. Stop losses should be below key technical supports to prevent them from bring hit. Apart from the technical factors, momentum factors will dictate intra movement for the rest of December.   Markets will be looking forward to November payroll number and the if the US dollar once again takes a drubbing this evening spot gold should edge past $650 and silver near $1500.
GOLD -- FEBRUARY FUTURE
Gold has held $628.50 support and needs to break $655.80 for further gains to $668. Only a consolidated fall below $628.50 will result in further losses to $617.80.
SILVER -- MARCH FUTURE
Silver has managed to hold $1366 support and a break of $1435 will result in $1496 and $1528. A consolidated fall below $1366 will result in $1329.
Happy Profitable Trading
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-- Posted Friday, 8 December 2006 | Digg This Article

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