LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Asian Metals Market Update for 24th January, 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Wednesday, 24 January 2007 | Digg This ArticleDigg It!

GOLD

SILVER

COMEX GOLD FEBRUARY FUTURE -- $645.60

COMEX SILVER MARCH FUTURE -- $1334.00

 EXPECTED TRADING RANGE

GOLD -- $636.00 -- $660.00

SILVER -- $1290.0 - $1390.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER MARCH -- $254.00 - $274.10

NYMEX CRUDE OIL  DECEMBER - $51.85 - $56.60

MULTI COMMODITY EXCHANGE OF INDIA (MCX)

GOLD FEBRUARY FUTURE/10 GRAMS

SILVER MARCH FUTURE/KG

Rs.9135 - Rs.9400

Rs.19,300 - Rs.20,300

NATURAL GAS FEBRUARY FUTURE

CRUDE OIL FEBRUARY FUTURE

Rs.308.00 - Rs.340.00

Rs.2,360 - Rs.2510

NATIONAL COMMODITIES AND DERIVATIVES EXCHANGE (NCDEX)

GOLD FEBRUARY FUTURE/10 GRAMS

SILVER FEBRUARY FUTURE/KG

Rs.9200- Rs.9,400

Rs.19,200- Rs.20,175

STEEL FEBRUARY FUTURE

CRUDE OIL FEBRUARY FUTURE

Rs.19139.00 - Rs.19509.00

Rs.2,320 - Rs.2520.00

GENERAL MARKET CONDITIONS

  Fund buying and technical break out apart from a weaker a US dollar and higher crude oil prices resulted in gold and silver edging higher. Oil rose after the U.S. announced plans to double the US’ emergency oil reserve to 1.5 billion barrels by 2027.  Beginning this Spring, this would involve a demand of 100,000 barrels a day.  This announcement may just have what it takes to cement the bottom for oil prices. Higher crude oil prices will support gold and silver and interest rates as well.

 

President George W. Bush, in his first State of the Union address to a Congress controlled by Democrats, urged both political parties to put aside differences and focus on battling terrorism and accomplishing ``big things'' for the American people. Weakened by the unpopularity of the Iraq conflict and his party's loss of power in Congress, Bush defended his war strategy and made a plea for patience. He pressed lawmakers to stand together in the wider battle against terrorism and said they could find common ground in his health care and energy initiatives, as well as his past proposals on immigration and education. Mr. Bush is not concerned with US economic growth and the welfare of US citizens. He is just interested in protecting US citizens from terror attacks for which a mirage has been created in the mindset of US citizens by Mr.Bush. There will be geopolitical uncertainties over the next two years under the remaining tenure of Mr.Bush. The US dollar should get weaker and gold and silver edge to multi year highs.

 

GOLD -- FEBRUARY FUTURE

Gold needs to break and hold $660 for $693.60 and $730. On the lower side as long as $636.0 holds on closing basis the downside is limited.

 

SILVER -- MARCH FUTURE

  Silver can target $1425 and $1545 over the coming weeks as long as it holds $1305 on closing basis. A consolidated fall below $1305 will result in further losses to $1272 and $1239.

 

Happy Profitable Trading

 

For MCX & NCDEX Subscriber reports 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, 24 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:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.