Asian Metals Market Update for 12th February, 2009
By: Chintan Karnani, Insignia Consultants
-- Posted Thursday, 12 February 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Gold rises on safe have demand while all other commodities have fallen. There is still no certainty over the fate of the US banking system. They will be rescued but whether the plan will be successful or not there are real doubts over the same. Short term measures are basically stop gap arrangements and may not be successful in the long term. The current uncertainty will be over only when job losses stop and various measures trickle down. Trickle down effects will take time from a few weeks to a few months. Till then safe havens will find investment demand.
Technically gold and silver are approaching slightly oversold conditions which may continue further before a correction happens. Base metals and energies will be volatile.
TECHNICAL VIEW
COMEX GOLD APRIL
A close over $933 is very positive for gold. A close over $933 tomorrow (Friday) will result in $980 and $1050 over the coming weeks.
DISCLOSURE: NO POSITIONS
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 Thursday, 12 February 2009 | 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.
Disclaimer
The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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,
is strictly prohibited. In no event shall GoldSeek.com or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
OilSeek.com
