Latest Headlines

Search

-- Posted Wednesday, 17 January 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $624.80	COMEX SILVER MARCH FUTURE -- $1268.00
EXPECTED TRADING RANGE
GOLD -- $614.40 -- $641.10	SILVER -- $1240.0 - $1350.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $247.00 - $269.00	NYMEX CRUDE OIL  JANUARY  - $51.00 - $54.80
MULTI COMMODITY EXCHANGE OF INDIA (MCX) - SPREAD/BADLA
BUY GOLD APRIL, SELL GOLD FEBRUARY FOR RS.49 (PREVIOUS DAY CLOSE RS.161)
BUY SILVER MAY , SELL SILVER MARCH FOR RS.75 (PREVIOUS DAY CLOSE RS.400)
BUY CRUDE OIL MARCH , SELL CRUDE OIL FEB FOR RS.18 (PREVIOUS DAY CLOSE RS.53)
BUY COPPER APRIL, SELL COPPER FEBRUARY FOR RS.2 (PREVIOUS DAY CLOSE RS.4.00)
NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE (NCDEX)
GOLD FEBRUARY FUTURE/10 GRAMS	SILVER FEBRUARY FUTURE/KG
Rs.8940- Rs.9,220	Rs.18,600- Rs.19,700
STEEL FEBRUARY FUTURE	CRUDE OIL FEBRUARY FUTURE
Rs.19800.00 - Rs.20125.00	Rs.2,280 - Rs.2410.00
GENERAL MARKET CONDITIONS
The Opec is divided over crude oil production as Saudia Arabia said yesterday that no further production cuts are needed to prevent further oil prices from falling. Crude oil demand will continue to rise and that the effects of lower crude oil prices over the past five months will be felt in the next five months by way of higher global growth and higher consumption. Crude oil demand will be lead by India, China and other emerging nations where the trickle down effect of sustained higher growth is being felt. Higher growth in these nations will increase the rich poor divide but the there is an overall increase in income of the lowest strata of the society. Low income groups consume more and save less and they are more in numbers. In India growth is there in every nook and corner that too with infrastructure being pathetic. If countries like India improve their infrastructure bottle necks GDP growth will be in double digits. Crude oil as well as gold and silver will continue to edge higher on supply constraints and that the long term bullishness trend will remain intact. However in the short liquidity factors will increase the intra day volatility.   Gold continues to be dictated by a combination of crude and the US dollar. Euro failed to edge past 1.30 and failure of euro to edge past 1.30 over the next three days will result in losses to 1.2750 which will negatively impact gold and silver assuming crude oil remain below $55.00 and geopolitical risk remain the same.
GOLD -- FEBRUARY FUTURE
Gold needs to break $643.60 for further gains. On the lower side support is at $619.10 and $611.60.
SILVER -- MARCH FUTURE
Silver needs to break $1325 for $1400. On the lower side $1252 and $1224 are the support levels.
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, 17 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 - 2008

Disclaimer