-- Posted Thursday, 14 October 2010 | Digg This Article
| | Source: GoldSeek.com
GENERAL MARKET CONDITIONS/FUNDAMENTAL FACTOR
As long as the US dollar continues to weaken and stock markets rise then gold and other commodities will rise. There is nothing else I can comment on the markets today. So watch the US dollar and stocks.
SILVER UPDATE – upgrading silver targets
Our 2010 silver $2400 price target achieved. We increase our silver price target to $2754 before December 2010 and $3198 before March 2011.
We also upgrading our silver 2011 forecast from $3000 to $3823 in view of the earlier achievement of 2010 silver price target.
COMEX TECHNICAL VIEW
COMEX COPPER DECEMBER
Bullish over $376.40 with $387 and $396 as price target
Bearish below $371 with $366.60 and $350.20 as price target
Neutral Zone between: $371-$376.40
Copper targets $396.20 as long as it trades over $376
MCX – SX USD/INR OCTOBER
There is intervention by the reserve bank of India which is preventing the rupee from further gains. We do not expect it to last long. The Coal India initial public offering (IPO) and other IPO’s will bring in huge dollar inflows and add further pressures on the rupee. We prefer selling on rise with a stop loss of 45.20 and price target of 43.90 and 43.40. Only a break of 45.20 will result in further rise.
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
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-- Posted Thursday, 14 October 2010 | Digg This Article | Source: GoldSeek.com
