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-- Posted Wednesday, 7 February 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $659.90	COMEX SILVER MARCH FUTURE -- $1371.0
EXPECTED TRADING RANGE
GOLD -- $649.00 -- $672.00	SILVER -- $1330.0 - $1425.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $245.00 - $256.00	NYMEX CRUDE OIL  FEBRUARY  - $57.20 - $61.20
MULTI COMMODITY EXCHANGE OF INDIA (MCX)
GOLD APRIL FUTURE/10 GRAMS	SILVER MARCH FUTURE/KG
Rs.9400 - Rs.9550	Rs.19,800 - Rs.20,700
NATURAL GAS FEBRUARY FUTURE	CRUDE OIL FEBRUARY FUTURE
Rs.321.00 - Rs.360.00	Rs.2,540 - Rs.2670
GENERAL MARKET CONDITIONS
The weather is dictating crude oil prices. In January its was summer temperatures in US and Europe which resulted in crude oil prices falling on less than expected demand and higher global inventories and liquidation of long positions. In February it’s more than chilly winters in US and Europe which has resulted in reverse position. Crude will be dictated by weather and the geopolitical risk. The January low of $50 will not been seen for the rest of 2007. It summers temperatures rise more than expected demand for energies globally will rise cause crude oil and related products to rise even further and global central banks to rethink on their interest rate strategy.   Gold and silver are finally getting some short term hot money which is necessary for further gains. Short term investors are finally betting more in gold and silver which could push of prices further. Markets expected Chinese demand to rise due to Chinese New year over the next two weeks. Gold and silver are dictated by a combination of crude oil prices and movement in foreign exchange markets. The yen has gained due on liquidation ahead of the G7 meeting.
GOLD -- APRIL FUTURE
Gold needs to break $665-$670 zone for $693. On the lower side as long as $647 holds on closing basis the downside is limited. A consolidated fall below $647 will result in $639.
SILVER -- MARCH FUTURE
Silver needs to close over $1392 for further gains to $1437. On the lower side $1350 is the initial support with $1330 and $1300 as the key support levels.
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 Wednesday, 7 February 2007 | Digg This Article

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