-- Posted Monday, 19 March 2007 | Digg This Article

GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $656.00	COMEX SILVER MAY FUTURE -- $1327.00
EXPECTED TRADING RANGE
GOLD -- $651.00 -- $676.00	SILVER -- $1293.0 - $1369.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MAY  -- $296.00.00 - $310.60	NYMEX CRUDE OIL  MARCH   - $56.00 - $60.00
GENERAL MARKET CONDITIONS
Last week the Euro rose to its highest level in 2007 against the US dollar. Expectation that the European central bank (ECB) will raise interest rates one more time and a robust Eurozone economy is supporting the Euro. US dollar is trading with a weaker bias against the major currencies after sub prime mortgage collapse could slowdown the US economy. Euro is headed higher and could rise to 1.3512 and further if there is evidence that US economic growth will be slower. A weaker US dollar is bullion supportive.   China raised interest rates for the third time in 11 months to curb inflation and reduce asset bubbles in the world's fastest-growing major economy. The one-year benchmark lending rate has been raised to 6.39&, its highest in almost eight years, from 6.12%. The one-year deposit rate will be increased to 2.79& from 2.52%. Central bank Governor Zhou Xiaochuan is concerned that cash from a record trade surplus is stoking excess investment, raising the risk of accelerating inflation and boom-and-bust cycles in asset prices. The big question is whether China will succeed in slowing down its economy. If Chinese economy show sustained slowdown then copper and other base metal prices could fall.   This week markets will be looking forward to the Fed meeting and technical factors for a directional call in gold and silver. Gold and jewellery demand from India will rise from this week all the way into end June with the arrivals of Navratras. In April some more gold Exchange Traded Funds (ETF) are being launched in India which will result in even greater demand.
GOLD -- APRIL FUTURE
Gold needs to beak $663.70 for $676 and $692.00. On the lower side $643.10 is the key weekly support.
SILVER -- MAY  FUTURE
Silver needs to break $1339 for $1370 and $1412. On the lower side as long as $1290 is the key weekly support.
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.
Prepared By Chintan Karnani. Web Site:www.insigniaindia.com

-- Posted Monday, 19 March 2007 | Digg This Article

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