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-- Posted Wednesday, 13 February 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 13th February, 2008
GOLD	SILVER
COMEX GOLD APRIL FUTURE -- $908.60	COMEX SILVER -- MARCH FUTURE -- $1711.0
GOLD APRIL 08   -- $893.0 -- $930.00	SILVER  MARCH 08  -- $1652.0 - $1770.00
COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE
COPPER MARCH 08   -- $343.00 - $364.00	NYMEX CRUDE OIL   - $90.60.00 - $96.50
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GENERAL MARKET CONDITIONS
Gold, silver and copper fell on profit taking after the inability to edge higher. At the moment the fall is just profit taking, whether turns into a bear rally remains to be seen. Only if gold, silver and copper fail to rise over the next two weeks, they may be in for a short term bear zone. Physical demand for gold is very low, buyers of jewellery are trying to satisfy their needs with minimum purchases and are waiting for correction to buy. The fall in the Indian stock markets has reduced instant cash availability and fiscal year close will result in more investment in tax savings schemes as March closes in. Silver has fallen but nothing official about it. However it remains to be seen whether silver is able to break $18.00 and failure to do it will result in profit taking at higher levels.
Base metals are in a consolidation phase. China will open tomorrow after a week. Traders are long in base metals in anticipation that physical demand will rise sharply in China once they open. However if physical demand does not come up, base metals will fall on profit taking. All eyes on Chinese demand in the next fortnight for base metals.
SILVER -- MARCH FUTURE -- INTRA DAY PIVOT $1676.0
Silver has to hold $1657 and $1688 to prevent a fall to $1623. On the higher side only a break of $1739 will result in $1770.
COPPER -- MARCH FUTURE -- INTRA DAY PIVOT: $345.0
Failure of copper to break $360 and $368 by next week will result in a fall to $336 and $319.0
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 Wednesday, 13 February 2008 | Digg This Article | Source: GoldSeek.com

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