-- Posted Tuesday, 5 June 2012 | | Disqus
Executive Summary
· Technically gold and silver are bullish
· Copper and crude oil seem to have formed a medium term bottom
· The US dollar will be the key
The rally in gold, silver, copper and crude oil has been aided by a weaker US dollar against the major currencies, particularly the euro. Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis today. They will just try and calm the markets, which implies further gains for the euro and gains for commodities.
Investment demand in gold and silver will continue to rise. The underperformance of silver to gold will result in more investment demand in silver. But silver’s big rally will be there once the global economy stabilizes.
A bit on demat stock accounts in India – Cheating
There are a lot of demat accounts in India (demat accounts are accounts where delivery based stocks are kept in electronic form in India) which are not operated for a long time. They are more or less dormant and hardly operated. I have come across a case in Delhi where shares were siphoned off from one of the demat accounts and sold in the stock markets. The person hardly operated his demat account and came to know of the loss of stock after more than six months. On investigation by the concerned broking house it came to be known that it was done by some of the employees of the broking house wherein signatures were forged to issue demat payout slip books and payin slip books. Now the Delhi police is investing this. Please keep on checking your demat account statements statement and look for suspicious transactions. Next time it could be you.
MCX CRUDE OIL (1ST CONTRACT) - MCX crude oil targets Rs.5050-Rs.5250 in short term as long as it trades over Rs.4400. There will be a technical break down only on a fall below Rs.4400.
NYMEX CRUDE OIL (1ST CONTRACT) - current price $84.87
Bullish target $90.50 – short term investors use a buy on dips strategy with a stop loss below $74
Bearish below $82.50 with $80.50- and $77.90 as price target
Bullish over $83.90 with $87.50 and $90.20 as price target
Break point: $85.50
- Crude oil now needs to break and trade over $87 to target $92
- There will be buyers on dips as long as crude oil trades over $2
- Trading call: Buy at $83.50 stop loss $81.30 for $90.50-$92
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.
-- Posted Tuesday, 5 June 2012 | Digg This Article
| Source: GoldSeek.com
