-- Posted Thursday, 15 November 2007 | Digg This Article | Source: GoldSeek.com

GOLD	SILVER
COMEX GOLD DECEMBER FUTURE -- $818.0	COMEX SILVER -- DEC FUTURE -- $1512.0
EXPECTED TRADING RANGE
GOLD DECEMBER   -- $809.50 -- $832.00	SILVER  DEC   -- $1480.0 - $1560.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER DEC   -- $316.00 - $340.70	NYMEX CRUDE OIL   - $89.20 - $95.60
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GENERAL MARKET CONDITIONS
Next week is the Thanksgiving week. US retail shopping during thanksgiving will be important and if the US retailers shop till they drop, the US dollar might well gain in the short term. The effects of higher crude oil prices on US retail consumption has already been factored. Trading volumes will reduce from next week. However beware of the Japanese trader as it was on the Thanksgiving of 2005 that gold really started going berserk from $550 to $730. Japanese investment demand and arbitrage demand resulted in gold zooming. Those who were on holiday were caught napping.  I just hope history does not repeat itself. US dollar and crude oil will continue to dictate precious metals.
Copper rose over six percent as quakes in Chile stopped copper and other minerals production. This resulted in short covering in base metals and traders going long once the stop losses were hit. Global inventory situation is fragile and global growth is expected to remain positive in the next few years. Base metals will be volatile for the rest of the month. It may not be a one way traffic. Base metals traders and investors are sitting on the fence.
GOLD -- DECEMBER FUTURE
May have bottomed out for the week and should near last week’s high of $848 as long as $786 holds.
COPPER -- DECEMBER
Copper has held $298 support and now needs to hold $316 to $346 and $380.
NYMEX CRUDE OIL --  FUTURE
As long as $89 holds in short term, downside will be limited and crude oil will target $100 once again.
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, 15 November 2007 | Digg This Article | Source: GoldSeek.com

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