-- Posted Thursday, 11 October 2007 | Digg This Article | Source: GoldSeek.com

GOLD				SILVER
COMEX GOLD DECEMBER FUTURE -- $747.10				COMEX SILVER -- DEC FUTURE -- $1368.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $732.50 -- $758.00				SILVER  DEC   -- $1349.0 - $1400.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $357.40.00 - $380.70				NYMEX CRUDE OIL   - $78.20 - $82.60
MCX traders can SMS their Name & Telephone to 9311139549 for a free trial.
GOLD DECEMBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$725.80	$732.20	$736.50	$744.00	$751.10	$754.50	$761.00	$767.00
GENERAL MARKET CONDITIONS
Lack of major market moving news has resulted in gold and silver trading with a firm bias. It seems gold and silver are about to enter a "zero gravity" zone. Over the past fortnight the pace of rise of gold has been much higher than the pace of fall. This has resulted in more and more buyers on dips.  Gold continues to be dictated by the US dollar and energy prices. Energy prices are firm on expectations of a mild winter. In early January, this year, a warmer US winter resulted in crude oil testing $50. This is global warming time. Average temperatures in every part of the world are rising. History may repeat itself in January 2008 but with a higher base. Gold will partly be affected by movement in energy prices.
All the major markets in the globe are being dictated by liquidity. The Fed is the biggest liquidity provider after bank of Japan now. ECB is the next among the developed nations. To maintain higher growth and compete with China and India, the central banks in US, Japan and Eurozone, if they had their way would have reduced interest rates to negative. But they can’t due to limitations. Fund managers and retail investors gamble and incur losses and still remain firm as they know that their central will bail them out. All these measures will lead to formation of an asset bubble and to prevent the bubble from bursting another bubble is created. Sooner than later all the bubbles will burst at the same time and the central banks will be hapless. Gold get its true value then.
Technically gold and silver are bullish. So far a buy on dips strategy is working very well. Copper is set for further gaiins.
MCX -- LEAD OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
135.80	140.20	143.40	147.90	153.80	158.20	160.20	163.80
MCX -- LEAD OCTOBER FUTURE (PRICES IN INDIAN RUPEE'S)
Lead needs to break 153.80 for further gains  to 160.20 and failure to do the same will result in test of 143.40 and 139.60.
GOLD -- DECEMBER FUTURE
Gold targets $754 and $787 as long as $732 and $724 holds.
NYMEX CRUDE OIL --  FUTURE
As long as crude oil floats over $78.60 there is very possibility of $85-$87. A consolidated fall below $78.60 will result in $76.0
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, 11 October 2007 | Digg This Article | Source: GoldSeek.com

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