-- Posted Monday, 26 February 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $690.20	COMEX SILVER MAY FUTURE -- $1480.00
EXPECTED TRADING RANGE
GOLD -- $683.00 -- $703.00	SILVER -- $1449.0 - $1462.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY  -- $281.20.00 - $314.60	NYMEX CRUDE OIL  MARCH   - $60.50 - $63.80
GENERAL MARKET CONDITIONS
All news is good news for gold, silver and metals.   US has increased pressures on Iran to stop its nuclear desires. There is speculation that US is nearing towards the use of force in Iran. Central banks may have increased their pace of foreign reserve diversification away from the US dollar into other currencies and other assets. New gold Exchange Traded Fund (ETF) in India and other parts of the world is also supporting gold and silver bulls. Technically also gold and silver have breached the medium term resistances and are set o break 2006’s highs. There are also concerns over the health of US economy which is preventing US dollar weakness.   There are a lot of concerns that crude oil supplies from Middle East will fall if there is a war with Iran. Iranian economy is dependent on energy exports. In our view a war on Iran by US and its allies may not disrupt supplies from Iran. Only the speculative long positions will increase in crude oil which will result in crude oil prices rising.  Until Iranian risk subside, gold, silver and other precious metals will continue to rise and that corrections should be used as an opportunity to go long with stop losses below key technical levels.
GOLD -- APRIL FUTURE
Gold targets $698.50 and $715.20 as long as $676.50 holds on closing basis. On the lower side $663.50 is the key support
SILVER – MAY FUTURE
Silver targets $1526 and $1569 as long as $1412 holds on closing basis. On the lower side $1449 and $1429 are the intra day supports.
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 Monday, 26 February 2007 | Digg This Article

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