-- Posted Tuesday, 10 March 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Wish U all a very happy and colorful Holi and a Eid Mubarak. Base metals (except Nickel) and crude oil were firm yesterday while gold and silver fell on technical selling and lack of demand. Investors are now investing in equities, base metals and energies as their long term prospects look better. Europe has rejected calls for an additional stimulus package. Equities continue to sink. There is once again speculation that central banks and large fund managers have started diversifying their investments away from the US dollar and into commodities. The options market is dictating commodities space as traders buy far dated base metals and energy calls and short term puts in gold and silver.
It will once again be a technical trade today.
TECHNICAL VIEW
COMEX GOLD APRIL
A close below $930 today will be negative for gold and can result in gold falling to $896 and $872. Only a break of $933 will result in further gains to $950+.
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 Tuesday, 10 March 2009 | Digg This Article | Source: GoldSeek.com
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