-- Posted Monday, 23 July 2007 | Digg This Article

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 3475 2658 30.74%   USD/CHF 1.2006 1.2309 2.46% TIN  - 3 MONTH 15450 13950 10.75%   AUD/USD 0.8799 0.8458 4.03% ALUMINUM - MONTH 2195 2235 -1.79%   USD/CAD 1.0487 1.059 0.97%   The debate between paper assets and hard assets will never stop. Even hard assets can become paper assets. Trading in gold future is only paper. Just like any other investment timing of entry is important. I have not considered agri commodities such as corn, soybean whicj may have given better returns than paper.   (This is an excerpt from the weekly report )   Spot Gold has edged past $680 and is nearing $700.0. Retail Investors as well as fund managers now suddenly think gold is worth an investment. Investors are now waiting to see if gold breaks $700.0. If Gold breaks $700.00, it could attract more short-term hot money and could easily $752.0. I am cautiously optimistic on gold and silver bullishness as it more of a US dollar decline story.
GOLD -- AUGUST FUTURE
A consolidated break of $685.60 will result in $691.10 and $699. On the lower side $678.10 is the initial support with $674.40 as the key support
Happy Profitable Trading
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-- Posted Monday, 23 July 2007 | Digg This Article

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