-- Posted Wednesday, 19 September 2007 | Digg This Article

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $731.50				COMEX SILVER -- DEC FUTURE -- $1316.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $722.70 -- $742.00				SILVER  DEC   -- $1295.0 - $1344.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $342.40.00 - $60.70				NYMEX CRUDE OIL   - $78.20 - $86.60
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GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$709.10	$712.00	$719.00	$728.60	$732.00	$739.60	$745.50	$754.00
GENERAL MARKET CONDITIONS
Gold has risen due to safe haven status. If the equity markets continue to rise, safe haven demand may come down, which should result in a short term correction in prices while maintaining the bullish direction intact. The effect of Fed cut’s on US economy by way of stronger US economic growth will take time, but the outlooks remains better than it was last week. However a weaker US dollar will prevent major losses for gold. Overall spot gold can rise to $750-$770 over the next few weeks. Silver hopefully should attract fresh fund interest which should result in $14.30 and $15.30 before the close of the year.
The Fed by acknowledges that the US economy is in tatters as it cut the interest rates and discount rates by half a percentage. Equity markets are expected to rise another eight to then percent from the current levels over the next few weeks. The US dollar will weaken further on interest rate differentials. Over the past few months, we have seen a very strong correlation between US equities and carry trades. Carry trades will result in further gains in gold and silver. However base metals and energies will rise the most as far commodities are concerned.
It will be a technical trade for gold, silver and commodities. Major central bank meetings are over. Precious metals will be affected by directional changes in US dollar and energy prices.
GOLD -- DECEMBER FUTURE
Gold targets $754 as long as it floats over $726.60. A consolidated fall below $726 will result in $722 and $714.0
NYMEX CRUDE OIL --  FUTURE
Crude oil targets $86 as long as it floats over $80.0. Key Support at 77.60
Happy Profitable Trading
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, 19 September 2007 | Digg This Article

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