Asian Metals Market Update for 11th November, 2008
By: Chintan Karnani, Insignia Consultants
-- Posted Tuesday, 11 November 2008 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
ETF Securities Physical Gold ETC holdings fall 1 pct
ETF Securities said that the amount of metal it holds to back its Physical Gold exchange-traded commodity fell 1 percent in the week to Nov 9.
The ETC now holds 1.479 million ounces of bullion, against 1.494 million on Nov 2, after an outflow on Oct 30. However, holdings of its Physical Silver ETC rose 0.5 percent to a new record of 13.072 million ounces in the same period, it added. Holdings of its Physical Platinum and Physical Palladium ETCS were unchanged week-on-week.
COMEX GOLD DECEMBER
Gold needs to fall below $720 or break $770-$780 zone for direction. Trade in this zone using higher stop losses.
COMEX SILVER DECEMBER
50 day moving average of $1109 is the key short term resistance and a break of the same will result in $1216. On the lower side as long as the $960-$980 zone holds downside will be limited. Silver can rise on any positive news. It’s just that the positive news is not coming.
Long term investors buy silver on any ten percent dip.
Weekly traders use a sell on rise strategy till $1070-$1080 zone is not broken.
Disclaimer:Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities 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. Prepared By Chintan Karnani. Website www.insigniaconsultants.in
-- Posted Tuesday, 11 November 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: chintan@insigniaindia.com
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
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.
Gold needs to fall below $720 or break $770-$780 zone for direction. Trade in this zone using higher stop losses. 
