Latest Headlines

Search

-- Posted Thursday, 18 January 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $634.00	COMEX SILVER MARCH FUTURE -- $1293.0
EXPECTED TRADING RANGE
GOLD -- $623.40 -- $650.10	SILVER -- $1252.0 - $1360.00
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.167)
BUY SILVER MAY , SELL SILVER MARCH FOR RS.75 (PREVIOUS DAY CLOSE RS.383)
BUY CRUDE OIL MARCH , SELL CRUDE OIL FEB FOR RS.18 (PREVIOUS DAY CLOSE RS.42)
BUY COPPER APRIL, SELL COPPER FEBRUARY FOR RS.2 (PREVIOUS DAY CLOSE RS.4.50)
NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE (NCDEX)
GOLD FEBRUARY FUTURE/10 GRAMS	SILVER FEBRUARY FUTURE/KG
Rs.8980- Rs.9,325	Rs.18,400- Rs.19,600
STEEL FEBRUARY FUTURE	CRUDE OIL FEBRUARY FUTURE
Rs.19652.00 - Rs.20075.00	Rs.2,280 - Rs.2410.00
GENERAL MARKET CONDITIONS
The last eight weeks losses in energies and base metals will result in investors reducing their exposure in these sectors in 2007 and increasing their investments in gold, silver and other precious metals. Copper, Zinc, Aluminum all fell. When base metals prices were rising the industrial user maintained higher inventory levels which led higher demand. Now when base metals prices fell, the end user will first consume the excess inventory and will also reduce inventory levels. This will reduce short term. The same is with crude oil. Base metals and crude oil will go through a consolidation phase with successive lower base getting higher. But the rise will not be a one way traffic like 2006.   Gold and silver have been performed extremely well despite oil prices falling to $51.00 a barrel. Spot gold is at $633 when crude oil prices are at $53 a barrel. If crude oil gains to $70/$71 over the coming months, gold can test or break previous years high of $730.0. Silver will outperform every metals in 2007. But is not for the low risk trader due to its volatility. However one should keep on booking partial profits on their investments and rotate their trades.
GOLD -- FEBRUARY FUTURE
Gold needs to break $643.60 for $653.60. On the lower side support is at $621.60 and $611.00.
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 Thursday, 18 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