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Asian Metals Market Update for 19th February, 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Monday, 19 February 2007 | Digg This ArticleDigg It!

GOLD

SILVER

COMEX GOLD APRIL FUTURE -- $675.40

COMEX SILVER MARCH FUTURE -- $1404.50

 EXPECTED TRADING RANGE

GOLD -- $669.00 -- $684.00

SILVER -- $1380.0 - $1440.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER MARCH -- $259.40 - $269.70

NYMEX CRUDE OIL  MARCH   - $59.20 - $61.20

MULTI COMMODITY EXCHANGE OF INDIA (MCX)

GOLD APRIL FUTURE/10 GRAMS

SILVER MARCH FUTURE/KG

Rs.9520 - Rs.9680

Rs.20,180 - Rs.20,765

NATURAL GAS MARCH FUTURE

CRUDE OIL MARCH FUTURE

Rs.322.00 - Rs.355.00

Rs.2,580 - Rs.2670

GENERAL MARKET CONDITIONS

  Gold and silver have started the week on a positive note and could near 2006 highs as the week progresses. Demand supply factor is also one of the prime reasons for the rise in gold, silver, crude and other metals and energies. More than twenty countries in the world are experiencing growth rates over 4.00% never before seen in history, since statistical records are available. There is competition among central banks to ensure that growth matches other countries for which they are keeping interest rates lows, flooding the markets with more money and also manipulate their currency. The end result is that bonds and other less risky investments not even cover real inflation. The investors are forced to switch to high risk investments such as base metals and energies. Gold, silver and other precious metals are the safest investments for the long term investor. Year on year returns in gold and silver have outperformed base metals and energies. Do not look equities indices and compare with the same with gold and silver. Equity indices may rise but your stock can still give you negative return.

 

This week Chinese and some of the Asian markets are closed for the Chinese New Year celebrations. Demand for China, and east Asian nations (apart from India) will prevent gold and silver from a major slide. Iran and the middle east situation is like a calm before the storm.

 

GOLD -- APRIL FUTURE

  A break of $679.80 will result in $684.80 and $694.60. On the lower side $671.20, $669.20 and $633.20 is the initial support with $659.80 as the key intra week supports.

 

SILVER -- MARCH FUTURE

Silver needs to break $1417 for $1437 and $1458. On the lower side $1374 and $1350 are the initial support levels with $1330 as the key support.

 

 

Happy Profitable Trading

 

  For SMS and messenger service 7 days trial period, mail number 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 Monday, 19 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:



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