-- Posted Friday, 4 January 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 4th January, 2008
GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $868.10	COMEX SILVER -- MARCH FUTURE -- $1549.0
EXPECTED TRADING RANGE
GOLD FEBRUARY 08   -- $858.0 -- $884.00	SILVER  MARCH 08  -- $1510.0 - $1600.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $312.00 - $328.00	NYMEX CRUDE OIL   - $96.10 - $102.00
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GENERAL MARKET CONDITIONS
The first week of 2008 could be the best week for gold this year. More and more investors will be investing in gold on dips after this week. The trend of investing away from US denominated assets will continue in 2008. Gold will be delinked from the US dollar and will be a separate asset class in 2008. So far gold has risen more due to US dollar depreciation. Once gold resurrects itself as its own asset class, it can easily gain another fifty percent in the next two years. Demand from India and China will not fall even if prices rise. Indians have it in their genes to stash gold. Now the west seems to be aping the Indians. More gains in store for gold. But one should be ready for a period of high volatility with successive lower base getting higher.
Today's December payroll numbers will set the trend for the US dollar in January. Gold can be volatile as result of the same. Silver is in a bullish zone and a new multi year high should be created.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $322.0
Copper needs to break $321 for $337 and $350. On the lower side a consolidated fall below $312 will result in $303.0
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $102.0
Crude oil targets $109.10 and $114.70 on a break of $102. On the lower side as long as $97.60 holds downside will be limited.
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 Friday, 4 January 2008 | Digg This Article | Source: GoldSeek.com

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