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Asian Metals Market Update for 23rd July, 2007
By: Chintan Karnani, Insignia Consultants
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-- 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 |
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