Latest Headlines

Search

-- Posted Monday, 3 December 2007 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Precious Metals Market Update for 3rd December, 2007
GOLD				SILVER
COMEX GOLD FEBRUARY FUTURE -- $794.60				COMEX SILVER -- MARCH FUTURE -- $1410.0
GOLD FEBRUARY 08   -- $783.0 -- $818.00				SILVER  MARCH 08  -- $1366.0 - $1476.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $300.00 - $320.00				NYMEX CRUDE OIL   - $87.00 - $92.00
“SMS alert” for MCX and Comex also available to subscribers (India and Dubai traders) -- For taking trial SMS number to 9311139549 or visit www.insigniaconsultants.in
SILVER MARCH TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,300.00	$1,323.00	$1,359.00	$1,384.00	$1,424.00	$1,456.00	$1,476.00	$1,512.00
GENERAL MARKET CONDITIONS
Rise in London Inter bank Offered Rate (LIBOR) last week and a fall in energy and precious metals and gains in the US dollar once again reflects that in the short term global markets are nothing but driven by liquidity concerns. The big question in every trader is whether the Fed will cut interest rates even after December or will pause once and then start the interest rate cuts. Interest rate factor will dictate the markets in the first fortnight of December.  In the first quarter of 2008 central bankers of G7 nations will have to fight inflation lower base effect. Crude oil had fallen to $50 a barrel in January this year. Lower base effect will result in higher inflation. Gains in crude oil prices have been greater than currency gains; therefore almost the central banks will have to choose between growth and inflation on their interest rate policy in the first quarter of 2008.
Gold and silver and other precious metals and base metals will be volatile as there are a number of central bank meetings till early next week. It will all depend on the future interest rate outlook of these central banks. Gold, crude oil and silver are medium term bullish and short term bearish, only if they are able to overcome short term resistances that there could be a short term technical breakout.
SILVER -- MARCH FUTURE
Silver has to hold $1376 and a daily close below the same will result in $1325. On the higher side only a break $1474 will result in short term bullish zone.
NYMEX CRUDE OIL --  FUTURE
Crude oil has to hold $86.32 to prevent a fall to $82. On the higher side only a break $92 will result in further gains.
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 Monday, 3 December 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
Email: chintan@insigniaindia.com

Previous Articles by Chintan Karnani, Insignia Consultants

© 1995 - 2009

Disclaimer