-- Posted Wednesday, 14 May 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 14th May, 2008
EXPECTED TRADING RANGE
GOLD JUNE 08   -- $848.0 -- $894.0	SILVER  MAY 08  -- $1636.0 - $1744.00
GENERAL MARKET CONDITIONS
Yesterday I had written that the Chinese earth quake can result in a rise in base metals prices and it has happened. One can expect further gains in base metals but traders and investors who have already invested at higher prices will use the rise initially to exit long positions. Day traders should be choosy in their base metals trade as the pace of rise/fall in all base metals will not be the same. Volatility in base metals should rise for the rest of the week.
In the forex markets speculators continued to pound the UK pound along with the yen (against the US dollar) while euro has been volatile and also found sellers on rise. US April retail sales numbers were better than expected which resulted in the greenback gaining against the major currencies. Markets will be looking forward to the US consumer price index number today but it will affect the US dollar in a big way. For the rest of may, Euro zone and UK economic numbers will affect the US dollar more than US economic numbers as the worst on US economy has already been discounted. One should never ignore the technical factors also. Japan has said that the Chinese earth quake will affect Japanese companies. Japanese interest rates will remain stable to negative for the rest of 2008.
COPPER -- JULY FUTURE
$360.26 is the key support and only a close below the 360.20 will result in fall to $347 and below. Upside copper has to break $386 for $397 and $406.
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, 14 May 2008 | Digg This Article | Source: GoldSeek.com

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