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Asian Metals Market Update for 23rd July, 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Monday, 23 July 2007 | Digg This ArticleDigg It!

GOLD

SILVER

COMEX GOLD AUGUST FUTURE -- $683.00

COMEX SILVER -- SEPT FUTURE -- $1341.00

EXPECTED TRADING RANGE

GOLD AUGUST  -- $677.20 -- $690.00

SILVER  SEPT   -- $1324.50 - $1370.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER SEPT   -- $360.10.00 - $380.50

NYMEX CRUDE OIL  AUGUST   - $73.25 - $77.80

GOLD AUGUST TECHNICAL LEVELS

SUPPORT

RESISTANCE

S1

S2

S3

S4

R1

R2

R3

R4

$669.80

$674.40

$678.60

$680.00

$685.60

$691.10

$695.40

$699.00

GENERAL MARKET CONDITIONS

  WHY INVEST IN COMMODITIES/HARD ASSETS AND NOT PAPER ASSETS?

 The power of paper assets is dwindling. Globally there are more billionaires than history has every seen. The power of money falling with passing of each day. Nothing official about it! One has use to the concept of Time Value of Money before making investment decision. In lay man’s terms one needs to invest in such a way that he is able to maintain his future standard of living.

I am a firm believer that commodities are the future of investments. My bias towards commodities over paper assets will continue. The basis of judging any investments is the returns they generate. It is there in the table below.

 

INVESTMENT RETURNS AS ON 1ST JULY -- 20TH JULY, 2007

 

 

 

 

 

 

 

 

 

HARD ASSETS

 

PAPER ASSETS

 

20TH JULY, 2007

JUNE, 2007 CLOSE

% GAIN/LOSS

 

 

20TH JULY, 2007

JUNE, 2007 CLOSE

% GAIN/LOSS

SPOT GOLD

682.55

648.9

5.19%

 

EQUITY INDICIES

SPOT SILVER

13.26

12.44

6.59%

 

DOW JONES

13851.08

13408.62

3.30%

DOLLAR INDEX

80.15

82.1

-2.38%

 

SENSEX

15553.89

14650.51

6.17%

 

 

 

 

 

FTSE

6585.2

6607.9

-0.34%

GOLD AUGUST

683.9

650.4

5.15%

 

DAX

7874.85

8007.32

1.65%

SILVER SEPTEMBER

1339

1237.9

8.17%

 

CAC

6054.93

5957.16

1.64%

COPPER SEPTEMBER

372.5

342.75

8.68%

 

HANGSENG

23291.9

21772.73

3.98%

CRUDE OIL - NYMEX

75.7

69.57

8.81%

 

 

 

 

 

PLATINUM - NYMEX

1338.5

1241.6

7.78%

 

 

 

 

 

 

 

 

 

 

 

LONDON METAL EXCHANGE

 

FOREIGN EXCHANGE MARKETS

COPPER 3 MONTH

8135

7560

7.65%

 

EURO/USD

1.3826

1.3446

2.83%

NICKEL – 3 MONTH

34900

36100

-3.32%

 

GBP/USD

2.0558

2.0028

2.65%

ZINC - 3 MONTH

3712.5

3350

10.82%

 

USD/JPY

121.25

123.15

1.54%

LEAD - 3 MONTH