Gold, silver and metals in general are getting buoyed news from more subprime losses in US. Bear Stearns halted redemptions on third hedge fund after a slump in credit markets prompted investors to demand their money back. Macquarie Bank Ltd., Australia's largest securities firm, said investors in some of its high-yield funds may lose as much as 25% of their money amid the fallout in U.S. subprime mortgages. At the time when markets seem to be consolidating after nearly five days of rout and hoping for a sustained bounce back, a Yorker is bowled and the investor gets clean bowled.
Investors whether gold, and silver or equities will be using the rise to exit their short term investments and will also be keeping a close watch on long term investors. The pace of fall of any market will be multiple time greater than the pace of rise. Simple physics and nothing else, throw a ball in the air, the speed of rise is always slower than the speed of fall. This applies to the financial markets as well. There is a difference between long term trading and intra day/short term trading. It’s the intra day traders and short term traders which make up most of the volumes and they dictate the intra day price movement. The plunge protection team (PPT) in most countries is already in action which will prevent significant losses in equities.
It’s going to be another choppy trade with the precious metals tracking the stock markets. Gold August future expiry is over. Over the next two months the spread between December and October will dictate the current price movement.
GOLD -- DECEMBER FUTURE
Only a break of $686.90 will result in bullishzone. Support at $670.10 and $663.40.
SILVER -- SEPTEMBER FUTURE
Silver needs to hold $1277 or break $1307 and $1326. Only a consolidated break of $1313 will result in further gains to $1326 and $1346. On the lower side $1248 and $1217 are the key support.
Happy Profitable Trading
FOR ACTUAL AND FULL REPORTSplease register on our new website www.insigniaconsultants.infor 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 employeeshave any liability
for any losses incurred in connection with any decision made, action or inaction taken by any
partyin reliance upon the information provided in this material; or in any delays, inaccuracies,
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: chintan@insigniaindia.com
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.
Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
OilSeek.com
