INSIGNIA CONSULTANTS

Asian Metals Market Update for 20th February, 2008

GOLD

SILVER

COMEX GOLD APRIL FUTURE -- $930.20

COMEX SILVER -- MARCH FUTURE -- $1751.50

EXPECTED TRADING RANGE

GOLD APRIL 08   -- $916.0 -- $956.00

SILVER  MARCH 08  -- $1720.0 - $1810.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER MARCH 08   -- $362.00 - $384.00

NYMEX CRUDE OIL   - $95.60.00 - $105.50

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GENERAL MARKET CONDITIONS

 Yesterday’s rise in gold was unexpected. Crude oil prices edging past $100, nervousness on the equities front have contributed to the rally in precious metals and base metals. Interest rate cuts by the Fed have started impacting the markets as availability of cheap money is being invested in commodities. As long as Fed continues to cut interest rates, commodities will continue to rise which includes gold and crude oil as well. Markets now expect crude oil demand to remain firm on back if continued rise in Chinese and Indian demand. This factor is not new. The lower crude oil price range demanded by oil producing nations is getting higher with passing of each month. In January I heard they will not let crude oil prices fall below $85. Now there is a speculation that $90 could be base price. Higher crude oil prices will only support gold prices.

 Silver should rise and outperform gold in the next few months. I am very optimistic about silver as I am with gold. However volatility will be high and it will be a day trader’s nightmare.  

GOLD -- APRIL FUTURE -- INTRA DAY PIVOT:$921.60

Gold can rise to $956.30 and $993 as long as it holds $916.50. Gold has to fall below $916.50 for a fall to $908.60 and below.

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.