LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
Asian Metals Market Update for 23rd July, 2008



By: Chintan Karnani, Insignia Consultants


-- Posted Wednesday, 23 July 2008 | Digg This ArticleDigg It! | Source: GoldSeek.com

INSIGNIA CONSULTANTS

Asian Metals Market Update for 23rd July, 2008

EXPECTED TRADING RANGE

GOLD AUG 08   -- $920.0 -- $970.00

SILVER  SEPT 08  -- $1730 - $1980.00

COPPER AND CRUDE OIL -- EXPECTED TRADING RANGE

COPPER SEPT 08   -- $358.00 - $378.00

NYMEX CRUDE OIL   - $121.60. - $135.40

www.metalsignal.com trial over. For subscription contact Manish at 9311139549/011-32601392. For Resellers package also call Manish.

GENERAL MARKET CONDITIONS

The inverse correlation between the US Dollar and crude oil versus gold and other precious metals continues. The US dollar gained on expectations that the Federal Reserve will raise interest rates sooner than expected which will result in a narrowing of the interest rate differential. For the rest of the week precious metals will be dictated by the US dollar and crude oil prices. The rise in gold and silver has not been backed by adequate physical demand. I always believe that unless the rise is backed by a simultaneous increase in physical demand, the chances of an equal steep crash/fall rises with every increase in price. ETF demand is basically paper investment. ETF demand can shift (increase or decrease) anytime when risk returning ratio in other investment avenues change. Average Intra day volatility should rise to two percent in precious metals and energies for the rest of the quarter.

Volumes in LME are thin. Base metals are basically directionless due to thin volumes. Lead is positive as the rise is backed by physical demand. Some of the Chinese factories producing base metals will close down around the Olympics due to power scarcity and reduction in global demand for base metals. One needs to look for a bottom in laggards such as zinc and nickel and then invest. One should remember that the value of zinc and nickel will not be zero.

COPPER -- SEPTEMBER FUTURE -- INTRA DAY PIVOT: $378.10

200 day MA around $354 is the key support. Resistance is at 100 day MA around $378. fall below $354 will result in $347 and $339.

 

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 Wednesday, 23 July 2008 | Digg This Article | Source: GoldSeek.com


1080-81, Ugger Sen Street,”Somani Bhawan”
Sita Ram Bazar, New Delhi-110006. India.
Ph: [O] 91-11-30919880 [M] 09811139549
Website: www.insigniaindia.com
Email:





 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.