LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Asian Metals Market Update for 27th June, 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Wednesday, 27 June 2007 | Digg This ArticleDigg It!

GENERAL MARKET CONDITIONS

  Mild Unwinding of yen carry trade resulted in technical break down in silver and gold which triggered stop losses. Silver fell like a pack of cards in its true style. Silver has the tendency to rise as well fall sharply on its day and if one caught on the wrong side of the trade stop losses may not be triggered.  Silver bears have been successful as July future is closing this week and a large numbers of low risk traders and investor were forced to square off their long positions. Gold also fell but was better off than silver. Copper also fell marginally but was supported by partial strike by mine workers in Peru.

 

It is not just the Fed meeting but also rise in treasuries which caused the fall. Investors are buying more treasuries as a resulted on the bear sterns fall out. They are scared that more could some up in the collateral debt market which could impact the US economy. This has resulted in aversion in favour of treasuries.

 

There has been a delinking between commodities and currency markets and equity markets. This will continue. It’s case of gold and silver versus alternate investments which have no holding cost. Geopolitical risk are not in the headlines with North Korea agreeing to dismantle its nuclear programme. Iranian diplomacy continues. Physical demand in India will rise multi gold as prices near INR 8500 per ten grams. There are investors who are waiting to buy physical gold as when price near INR 8500 and below. Expect higher volatility and if gold and silver manage  to hold yesterday low, we may have bottomed out.

 

COPPER -- SEPTEMBER FUTURE

Copper needs to float over $331.60 to prevent further losses to $327.30 and $321.30. $307.60 is the key medium term support. Resistance is between $340-$344.

 

 

Happy Profitable Trading

 

FOR ACTUAL AND FULL REPORTS please register on our new website www.insigniaconsultants.in  for a free  trial service for an indepth analysis on metals and energies along with intra day and positional trading calls on MCX. NCDEX and COMEX and other INTERNATIONAL markets. SMS on Mobiles, FAX and MESSENGER service also available.

 

 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 Wednesday, 27 June 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:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.