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-- Posted Tuesday, 13 March 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $652.00	COMEX SILVER MAY FUTURE -- $1309.00
EXPECTED TRADING RANGE
GOLD -- $646.00 -- $662.00	SILVER -- $1280.0 - $1350.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY  -- $280.00.00 - $288.60	NYMEX CRUDE OIL  MARCH   - $60.00 - $63.00
GENERAL MARKET CONDITIONS
US dollar weakness against major currencies is supporting gold and silver prices. Shares of New Century Financial were suspended for trading, raising concerns that the company may have no choice but to file for bankruptcy.  The problem in the sub-prime lending sector is worsening and run the risk of impacting the US housing market as a whole.  US housing inventory is at a three months high, suggesting prices could fall. In addition to New Century Financial, Halliburton also announced that it will be moving its corporate headquarters from Houston to Dubai.  Not only will it shave hundreds of millions of dollars from tax revenue, but the economic and political consequences of their move could bring out old concerns of the twin deficits and protectionism. These are just very positive development for the silver and gold markets as more and more investors will be forced to increase their investments in precious metals market.   There are concerns that Japanese investment in US housing market may decline which could increase lower price pressure on US housing market. The firmness in base metals suggests that global economic growth will remain robust with Chinese slowdown (if any) being the only negative factor. Higher global growth implies greater demand for gold and silver and demand exceeding supplies.
GOLD -- APRIL FUTURE
Gold needs breaks $659 for further gains to $662 and $672. On the lower side $643.80 and $635.10 are the key intra day support levels.
SILVER -- MAY  FUTURE
Silver needs to break $1330-$1340 zone for $1372 and $1412. On the lower side $1280 and $1243 are the support levels.
Happy Profitable Trading
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 Tuesday, 13 March 2007 | Digg This Article

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