-- Posted Tuesday, 24 June 2008 | Digg This Article | Source: GoldSeek.com

INSIGNIA CONSULTANTS
Asian Metals Market Update for 24th June, 2008
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PLATINUM OCTOBER TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
$1,992.00	$2,002.00	$2,036.00	$2,043.00	$2,062.00	$2,078.00	$2,092.00	$2,100.00
EURO/USD  -- TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.5290	1.5380	1.5432	1.5498	1.5572	1.5614	1.5674	1.5734
GBP/USD  -- TECHNICAL LEVELS
SUPPORT				RESISTANCE
S1	S2	S3	S4	R1	R2	R3	R4
1.9380	1.9514	1.9578	1.9614	1.9682	1.9719	1.9756	1.9830
GENERAL MARKET CONDITIONS
Lay offs continue in the US with United airways and Citi group announcing. UAL has announced that it will lay off 950 pilots. The layoffs are more in crude oil dependent industries and financials. Crude oil prices are directionless. It may take a few months for demand in emerging markets to fall. At the moment currency traders will be caught between eurozone and US economic growth. Cable will be switched between the US dollar and euro. Markets will be judging the level of hawkishness of Bernanke tomorrow.
Australia’s gold production is expected to fall 7.8% to 231 tonnes in the year to June 30 according to the Australian Bureau of Agricultural and Economic Resources. Australia is the world’s third largest gold producer and although a rebound in output to 256 tonnes is expected in 2008/09, long term (3-5 years) gold supplies will be in deficit. The Central bank Gold Sales agreement (CBGA) will be over by 2010-2011. With no fear of central bank sales gold will have an unending one way rise after CBGA gets over.
PLATINUM OCTOBER -- INTRA DAY PIVOT $2055.0
In the short term platinum can fall to $1980 and thereafter target  $2100 and $2192 as long as $2038 and $2019 holds
MCX CARBON CREDIT --NOVEMBER (price in Indian Rupees)
Carbon Credits targets 1454 and 1502 this week as long as 1395 holds.
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.
Nothing in this article is, or should be construed as, investment advice.

-- Posted Tuesday, 24 June 2008 | Digg This Article | Source: GoldSeek.com

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