-- Posted Thursday, 20 September 2007 | Digg This Article

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $731.0				COMEX SILVER -- DEC FUTURE -- $1310.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $722.70 -- $739.00				SILVER  DEC   -- $1290.0 - $1330.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $348.40.00 - $366.70				NYMEX CRUDE OIL   - $78.20 - $83.20
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SILVER DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,248.00	$1,266.00	$1,295.00	$1,305.00	$1,320.00	$1,346.00	$1,381.00	$1,406.00
COPPER DECEMBER  TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$332.10	$337.60	$343.60	$347.00	$352.00	$356.60	$363.00	$369.20
GENERAL MARKET CONDITIONS
It will be too much money chasing too few goods as a result of fed interest rate cut and other central banks pumping in billions every day. The decreasing power of paper assets will result in increasing power of hard assets over the next few years. Global interest rates have topped out for the next twelve to eighteen months. Developed nations are trying to follow the bank of Japan and use zero interest policy as means for higher economic growth. These measures will only prolong the inevitable recession and a global slowdown by a few years. Central banks are trying to manipulate gold and gold continues to remain undervalued. They have never bothered to think abut checking agri –price inflation (agflation) which affects the retail investors saving more than prices of gold. If, I ask any person on the street, what affects him more price of gold or prices of essential commodities, he will only say, essential commodities. Central banks should stop looking at gold prices and think of ways and means of controlling prices of essential commodities. Prices of agri commodities will head north for the few decades. The culprit global warming.
Global land is not increasing. Area under forest cover is falling day by day. Soon there will be more concrete building than trees globally with ever rising population. Total area under cultivation is falling with passing of each. Take the case of India, agricultural land is being converted into special economic zones. It’s happing in India and the same has happened in developed nations in the past. If food grains production continues to fall, they way it has been falling over the past three years, countries like India, will not be able to import food grains, as there will be not any exporters. One should also diversify their investment in agro commodities apart from precious metals and base metals. Agro commodities have given a higher return in 2007, than precious metals and base metals.
It’s momentum market. Nickel has been the best performer as it rose over ten percent in two trading sessions. Technically gold and silver should fall, however one should look out for signs of momentum fading before going short. Energies will remain firm for the rest of the week..
MCX -- ZINC SEPTEMBER FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
111.30	113.20	116.90	119.00	121.00	122.90	124.70	129.00
MCX -- ZINC SEPTEMBER FUTURE (PRICES IN INDIAN RUPEE'S)
Zinc needs to hold 120 and break 124.75 for gains. It will be voaltile for the rest of the week. Bears will try ensure they zinc does not rise so that long get squared off.
SILVER -- DECEMBER FUTURE
Failure of silver to edge past $1346 by tomorrow will result inn test of $1275.
COPPER -- DECEMBER
Copper targets $362 and $370 as long s it floats over $346.0. Falls below $346 then $340 and $322.
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 Thursday, 20 September 2007 | Digg This Article

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