-- Posted Tuesday, 10 November 2009 | Digg This Article | | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
Equity markets rise and commodities remain firm. The IMF had said that the US dollar is still overvalued suggesting more room for US dollar weakness in the days ahead. However there will be brief periods when the US dollar gains. There is no major economic news today as well as tomorrow. It will be a technical trade today as well as tomorrow. Silver will be affected by movements in gold and base metals.
TECHNICAL VIEW
COMEX GOLD DECEMBER
Gold has to break $1113 for $1125.40+. The correction from around $1111 is a healthy correction which if it continues can result in gold falling to 1092 and $1078.
MCX GOLD DECEMBER
Intra day bullish over 16505 with 16732 and 16937 as key resistances.
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
For further clarifications on this report call 91-9312335649 (Mr. Chintan Karnani)
-- Posted Tuesday, 10 November 2009 | Digg This Article | Source: GoldSeek.com
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