-- Posted Wednesday, 3 January 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $642.30	COMEX SILVER MARCH FUTURE -- $132450
EXPECTED TRADING RANGE
GOLD -- $630.50 -- $654.20	SILVER -- $1272.0 - $1352.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $268.00 - $290.10	NYMEX CRUDE OIL  DECEMBER - $59.20 - $63.75
NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE (NCDEX)
GOLD FEBRUARY FUTURE/10 GRAMS	SILVER FEBRUARY FUTURE/KG
Rs.9260- Rs.9,500	Rs.19,300- Rs.20,300
STEEL JANUARY FUTURE	CRUDE OIL JANUARY FUTURE
Rs.19000.00 - Rs.19550.00	Rs.2,665 - Rs.2760.00
GENERAL MARKET CONDITIONS
Gold and silver have started 2007 with a bang as they rose higher. Geopolitical risk is dominating the headlines. Iran has said that it will continue with its nuclear prorgamme despite the sanctions. Hezbollah has said that it sees no early end to the Lebanon crisis. Taliban commanders are vowing a bloody Afghanistan in 2007.The US dollar has fallen on expectations of a slowing US economy and interest rate differentials. The rise in non US dollar carry trade is also supporting gold and silver.   Indian gold demand should rise over the coming weeks as the Hindu marriage season once again starts around the middle of the month. The Real estate boom in India has converted a land owning pauper into a king and more and more paupers are being into kings due to unstoppable real estate prices. A part of the proceeds from sale of land or real estate is being invested into gold. The land prices in rural India have risen more than 200% over the past eighteen months. The bulk demand for gold in India is not in urban cities but in rural India. In urban cities there is a gradual shift in consumer preference from gold jewellery to platinum and diamond jewellery.   The short term technical supports have held well and gold an silver could test medium to long term resistances.  Crude oil as well the US dollar will affect intra day movement.
GOLD -- FEBRUARY FUTURE
Gold needs to break and hold $651.20 for $663. On the lower side $632.50 and $625.10 are the support levels.
SILVER -- MARCH FUTURE
Silver needs to break $1352 and $1425. On the lower side supports are at $1272 and $1248.
Happy Profitable Trading
For SMS and Yahoo support please mail at sms@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.

-- Posted Wednesday, 3 January 2007 | 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