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Asian Metals Market Update for 6th November, 2007



By: Chintan Karnani, Insignia Consultants


-- Posted Tuesday, 6 November 2007 | Digg This ArticleDigg It! | Source: GoldSeek.com

GOLD

SILVER

COMEX GOLD DECEMBER FUTURE -- $811.40

COMEX SILVER -- DEC FUTURE -- $1477.0

EXPECTED TRADING RANGE

GOLD DECEMBER   -- $803.50 -- $820.00

SILVER  DEC   -- $1450.0 - $1525.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER DEC   -- $326.00 - $343.70

NYMEX CRUDE OIL   - $90.20 - $98.60

 “SMS alert” for MCX and Comex also available to subscribers (India and Dubai traders)

For Intra Day Updates, visit www.insigniaconsultants.in  

GENERAL MARKET CONDITIONS

 The three day Diwali festival begins tomorrow. Indians are celebrating as stocks rise to historical high, salaries are rising at the fastest pace in India and so is the in Indian economy. Indian economy as well as gold is shining bright in the festival of lights. This will continue till next Diwali. I expect the Indian stock markets as well as gold to continue giving returns over thirty percent per anum next Diwali also. Indian stock markets as well as gold's rise is here to stay for atleast the next thirty months. But it will be a highly volatile market and low risk traders will have to increase their appetite.

 

If the US as well as eurozone economies slows down in 2008, India and china will get affected. They may get affected in a small way but hey will get affected. In this age of convergence, countries are inter dependent for growth. India mainly provides services to the US while china is into manufacturing. If India and China slowdown mildy, base metals will fall.

Base metal traders use higher stop losses. Copper, zinc, nickel and lead will be highly volatile.

COPPER -- DECEMBER

Still not out of the woods and needs to hold $326 to prevent a fall to $316. On the higher side it needs to break $346 to be in short term bullish zone.

NYMEX CRUDE OIL --  FUTURE

Still within striking distance from $100 and can break $100 as long as $89 holds.

 

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, 6 November 2007 | Digg This Article | Source: GoldSeek.com


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
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