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-- Posted Tuesday, 25 September 2007 | Digg This Article

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $735.90				COMEX SILVER -- DEC FUTURE -- $1356.50
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $726.70 -- $748.00				SILVER  DEC   -- $1320.0 - $1392.00
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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GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$716.40	$722.60	$726.50	$732.10	$739.60	$746.50	$752.00	$761.10
GENERAL MARKET CONDITIONS
Gold and silver had a technical correction and are not in bear phase. There could be more correction today if the US dollar gains. There will be huge physical demand of gold at lower levels as Indian now believe that gold has bottomed out. From Thursday retail hindu investors will not buy gold due to “Shradh paksha”. This will last for ten days. After that the festival season will begin which will last till Diwali and Christmas. Indian will spend in a big way this festival season  as Indian stock markets have gone berserk and not stopping in 2007. Retail investors have got an excellent return on their investment, a part of which will be spent on precious metals.
There is nothing new comment on precious metals. As long as the US dollar continues to weaken and crude oil prices remain firm, precious metals will rise. September has been a memorable month for gold and for the US dollar.  Investors are skeptical over US economy which has resulted in greater investment for gold. Suddenly now, all the newspapers are writing on how to invest in gold and rest. The writers in newspapers were sleeping when gold was at $660.0
MCX -- ZINC SEPTEMBER FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
109.30	111.60	113.20	115.30	119.00	121.00	122.90	124.00
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.
GOLD -- DECEMBER FUTURE
Gold needs to hold $726.50 to prevent a fall to $719 and $712. On the higher side $745-$750 needs to be cracked for gains.
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 Tuesday, 25 September 2007 | Digg This Article

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