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

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $646.60	COMEX SILVER MAY FUTURE -- $1296.00
GENERAL MARKET CONDITIONS
Gold is caught between bulls and bears with bears failing to break the key medium term support.  Silver is a precious metal as well as an industrial metal and has outperformed gold. Copper and Nickel are the dark horse, as it has been rising slowly and steadily on the back of strong fundamentals. Liquidity factors continue to dictate the intra day markets with long term supports being held. Traders are taking one day at a time and booking profits very quickly. One the stabilization factor is there gold and silver will rise further, till then expect higher volatility.   In India at lower levels, there is greater physical demand. Physical demand in India should increase from next week into April with the start of the Nav Ratras and other festivals. However, still a large number of traders expect physical gold prices to fall to INR 9,000 per ten grams from there could increase their inventory. IN MCX April further there are still huge long positions over INR 9450 and some of the traders will be exiting as when prices rise over these levels. Silver traders are more bullish than gold and are buying on every major decline.
GOLD -- APRIL FUTURE
Gold is in a familiar $640 - $660 zone and only a break of $660 will result in further gains to $672. On the lower side as long as $635.10 holds, downside limited.
SILVER -- MAY  FUTURE
Silver needs to break $1330 for $1370 and $1412. On the lower side as long as $1268 holds on closing basis downside limited.
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 Thursday, 15 March 2007 | Digg This Article

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