-- Posted Friday, 11 January 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 11th January, 2008
GOLD	SILVER
COMEX GOLD FEBRUARY FUTURE -- $892.30	COMEX SILVER -- MARCH FUTURE -- $1625
EXPECTED TRADING RANGE
GOLD FEBRUARY 08   -- $878.0 -- $918.00	SILVER  MARCH 08  -- $1560.0 - $1674.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $321.00 - $338.00	NYMEX CRUDE OIL   - $94.20 - $99.00
GENERAL MARKET CONDITIONS
If gold rises $36 in less than five hours, it can easily cross $1500 in 2008 and $2000 in 2009. Mr. Bernanke had said nothing new on the Fed's intention to cut interest rates by more than a quarter of percentage on the Fed meeting. A fifty basis point cut by the Fed was already factored in by the markets. The European central bank will not cut interest rates as long as inflation is high in the Eurozone. It was not a surprise for me. Gold is bullish no doubt, but I am not convinced with the pace of rise. The faster the speed of the rise of gold, the higher will be the correction with the successive lower base getting higher.
Silver is undervalued and should get more investment interest. It's all about future incremental returns. Silver despite being volatile, offers greater scope for rise than gold. Gold is benefiting from more numbers of exchange traded funds (ETF) than silver. Once silver offers more investment avenues, it will rise faster than gold.
Weekend is coming and considering yesterdays rise. Traders will either square off or go long on dips. Day traders better to remain on the sidelines and use sharp dips to go long.
SILVER -- MARCH FUTURE -- INTRA DAY PIVOT $1637
Silver targets $1665 and $1728 as long as $1558 holds.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $338.70
Copper needs to break $338 else it will consolidate in $316-$338 wider range.
NYMEX CRUDE OIL --  FUTURE -- INTRA DAY PIVOT: $92.0
$92-$97 wider range to continue. There are more buyers on dips than sellers.
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, 11 January 2008 | Digg This Article | Source: GoldSeek.com

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