Latest Headlines

Search

-- Posted Thursday, 15 February 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $672.40	COMEX SILVER MARCH FUTURE -- $1401.50
EXPECTED TRADING RANGE
GOLD -- $663.00 -- $682.00	SILVER -- $1374.0 - $1440.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH -- $254.40 - $264.70	NYMEX CRUDE OIL  MARCH   - $57.20 - $60.20
GENERAL MARKET CONDITIONS
In India, the investor sentiment is bullish in gold and silver as well as crude oil. Commodity investment is picking up at a slow pace. Investor preference towards stocks and real estate investment is more than commodities. Commodity investment is rising in India with passing of each day, but it is due to more and more new investors. The percentage of investment in ones portfolio is not rising. In rural India, where the market is untapped, most of the people would buy physical gold, than invest in futures. There are trading more in agri futures than in bullion futures. In our view more and more rural investors will start to invest in gold and silver futures which could result in bullion future volumes increases five fold over the next two years. In Urban India, it is a mix of future and physical investment but metal future trading is on the rise.   Gold and silver are consolidating at the moment with the successive lower base getting higher with passing of each day. US dollar got the first bashing in 2007 from all the currencies. Japan’s GDP economy expanded at an annual 4.8% in the three months ended December 31. A weaker yen doing the trick of growth for the Japanese economy. Growth differential between US and other nations is narrowing which will result in further losses for the greenback. Overall bullish trend remains intact. There could be some profit taking at higher levels which will not alter the bullish direction.
GOLD -- APRIL FUTURE
Gold needs to break $676 - $680 zone for $700, $730. On the lower side $659.80 is the key support.
SILVER -- MARCH FUTURE
Silver needs to break $1437 for $1458 and $1480. On the lower side $1374 and $1350 are the initial support levels with $1330 as the key support.
Further MCX, NCDEX and Comex future Analysis can be obtained by registering to our
website www.insigniaindia.com where readers can obtain the one week analysis free and
learn about subscription details. Comments and questions are also invited via email to
chintan@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, 15 February 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