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-- Posted Thursday, 11 January 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $610.70	COMEX SILVER MARCH FUTURE -- $1242.00
EXPECTED TRADING RANGE
GOLD -- $602.10 -- $628.50	SILVER -- $1170.0 - $1325.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $259.00 - $282.10	NYMEX CRUDE OIL  JANUARY  - $52.20 - $58.65
MULTI COMMODITY EXCHANGE OF INDIA (MCX) - SPREAD/BADLA
BUY GOLD APRIL, SELL GOLD FEBRUARY FOR RS.49 (PREVIOUS DAY CLOSE RS.160)
BUY SILVER MAY , SELL SILVER MARCH FOR RS.75 (PREVIOUS DAY CLOSE RS.405)
BUY CRUDE OIL JAN , SELL CRUDE OIL FEB FOR RS.20 (PREVIOUS DAY CLOSE RS.54)
BUY COPPER APRIL, SELL COPPER FEBRUARY FOR RS.2 (PREVIOUS DAY CLOSE RS.3.90)
NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE (NCDEX)
GOLD FEBRUARY FUTURE/10 GRAMS	SILVER FEBRUARY FUTURE/KG
Rs.8780- Rs.9,120	Rs.18,100- Rs.19,300
STEEL FEBRUARY FUTURE	CRUDE OIL JANUARY FUTURE
Rs.19360.00 - Rs.19700.00	Rs.2,390 - Rs.2620.00
GENERAL MARKET CONDITIONS
Copper, zinc and other base metals led the rally in metals which supported gold and silver despite a firm US dollar. Lower crude oil prices will result in stronger growth globally which will result in continued higher demand. Once base metals prices start to rise investment interest will also push up the prices. But the recent slide in copper will result in retail investor’s book profits quickly and will be cautious in making fresh investments. In 2006 investors brought copper and zinc at any price and made profits, which has resulted in investors getting stuck at higher levels.   The drop in crude oil prices will not result in Opec reducing production. There are nations in Opec which are dependent on oil exports for their growth. Crude oil has fallen and the US dollar has gained. The net impact to Opec members is significantly less as crude oil is billed in US dollars. Crude oil is bullish and that the current levels provide excellent long term investment opportunities Low risk traders can buy fall dated call options since the premiums is very less   Gold and silver despite being choppy are trading in a wider range and were unaffected by gains in the greenback. They are not out of the woods and should break out of the recent trading range over the next two days.
GOLD -- FEBRUARY FUTURE
Gold needs to break $619.10 for $624.80 and $635.10. On the lower side a consolidated fall below $600 will result in further losses to $594.50 and $570.0
SILVER -- MARCH FUTURE
Silver needs to hold $1239 and $1202 to once again target $1300 and $1400. A consolidated fall below $1202 will result in further losses to $1109 and $1019.
Happy Profitable Trading
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prices of specific currencies, precious metals, base metals, or equity indices reflect the views
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errors in, or omissions of Information.

-- Posted Thursday, 11 January 2007 | Digg This Article

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