-- Posted Monday, 4 May 2009 | Digg This Article | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Over the next two weeks we have the bank of England meeting, the European central bank meeting, and US April non farm payrolls among the events to watch. The minute impact of swine flu on the global economy cannot be ignored. I have friends in Delhi who have postponed their summer holiday travel plan to Thailand and other south East Asian nations. Swine flu will affect travel and tourism industry in the short term.
The US dollar and equity markets will weigh on base metals and energies while gold and silver are in a neutral to bullish zone. The positive thing is that they are holding to their key medium term supports of $858 and $1226. As long as these supports hold on daily closing basis downside will be limited in them.
TECHNICAL VIEW
COMEX GOLD JUNE
Gold will break free from the $860-$930 wider range soon. Intra day sellers will be there only if gold falls below $876 while a break of $903 will result in $919-$924 zone
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 employeeshave 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 Monday, 4 May 2009 | Digg This Article | Source: GoldSeek.com
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