DAILY GOLD TREND FOR 01DEC 2010

Yesterday gold and silver showing confirm uptrend
due to euro countries debt  and Korea tension. Above $ 1392
gold looks like to test all time high $ 1424 near feture.

Silver also contuning on uptrend path and there is no
resion to back before $ 30 near future.

Intraday trader also keep an eye on US data release on
thrusday and friday Jobless claim and Dec unemployment
this will confirm the path of presious metal.

HAPPY BUYING

MY COUNTS FOR 01/12 FEB GOLD


RESISTENCE #2...........$ 1406.00(MCX Rs 21033)
RESISTENCE #1...........$ 1395.00(MCX Rs 20906)
PIVOT #.........................$ 1379.00(MCX Rs 20747)
SUPPORT #1.................$ 1368.00(MCX Rs 20620)
SUPPORT #2.................$ 1352.00(MCX Rs 20460)

RECOMMENDATION : BUY GOLD ABOVE 20900 ($1392) CONFIRM SAFE HEAVN BUYING

MY COUNTS FOR 01/12 MARCH SILVER

RESISTENCE # 2.............$ 29.40 (MCX Rs 44444)
RESISTENCE #1..............$ 28.95 (MCX Rs 43850)
PIVOT #...........................$ 27.95 (MCX Rs 42850) 
SUPPORT #1...................$ 27.50 (MCX Rs 42300)
SUPPORT #2...................$ 26.90 (MCX Rs 41510)

RECOMMENDATION : BUY SILVER NEAR 43000 CONFIRM UPTREND

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 30 NOV

The Expiry day, so the maket having huge volatiely

The stronger dollar has been a bearish factor limiting the upside in the gold market.

The European Union's sovereign debt problems just won't go away,
even though Ireland did agree to a bailout package in recent days.
Traders are waiting for the next shoe to fall in that ongoing saga.
And while there have been no major fresh developments in the
North Korea-South Korea military stare-down, that situation is also
gold-market-bullish. Any major new and unwanted developments on
those two fronts could see a quick rally in
gold on strong safe-haven buying.

Many investors still believe the Chinese will raise interest rates as
their cost of in country commodities remain at historic high's...
This along with the unemployment data due out Friday and the
continued tension between North and South Korea have Gold traders
apprehensive...........said Mike Daily



MY COUNTS FOR 11/ 30....DEC GOLD

RESISTANCE # 2.................$1380.00(MCX Rs 20492)
RESISTANCE # 1.................$1371.00(MCX Rs 20430)
PIVOT...................................$1364.00(MCX Rs 20343)
SUPPORT # 1.......................$1356.50(MCX Rs 20281)
SUPPORT # 2.......................$1350.00(MCX Rs 20194)

MY COUNTS 11/30 ...DEC SILVER

RESISTANCE # 2................$27.91(MCX Rs 42376)
RESISTANCE # 1................$27.50(MCX Rs 42013)
PIVOT .................................$26.90(MCX Rs 41376)
SUPPORT # 1......................$26.45(MCX Rs 41013)
SUPPORT # 2......................$25.82(MCX Rs 40380)


RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 29 NOV

Gold is selling off today as the dollar is strong. Prices have run into resistance at 1380 and look to be forming a head and shoulders pattern. We see near term weakness and see the market moving to test 1340 next week. Volumes are light today and we would be cautious if trading.

Silver is off this morning after running into resistance at 28. A stronger dollar, China moves to curb inflation as well as holiday trading have all lent selling pressure to the market. Some risk premium is being taken out of the market as well as North and South Korea seem to be working things out peacefully. We are near term bearish and see another test of 25 as possible.

The December Gold has reached a high this week of $1382.90 and a low of $1347.90.  I am in a bearish mode unless the GCZ10 should penetrate $1375.00 and $1399.60.  While the move this last week put us in a temporary sell mode, the Gold is an emotional market that could be explosive with any fear or uncertainty.

There is the potential for another interest-rate hike in China that could pressure gold in the immediate aftermath, warned Mike Daly, gold and silver specialist with PFGBest.

Some of the end-of-week weakness in Comex gold may be the result of liquidation of long positions ahead of first-notice day next week, Nabavi said. Traders, who do not want to take delivery, generally roll forward to the next most-active contract, which is February, or else exit their positions. By the end of Friday, much of this activity should be wrapped up, removing some of the near-term selling pressure in the futures market, Nabavi said.
“Come Monday, we’ll probably have a fresh start,” Nabavi said. “If the tensions continue as they are with North and South Korea, I wouldn’t be surprised if we test the higher end of the range…With the European situation, I don’t think a miracle will happen over the weekend. So the situation will remain. I don’t see any reason why gold should really come off in the near future.”

MY COUNTS DEC GOLD 11/29

RESISTANCE # 2........................$1387.00(MCX Rs 20514)
RESISTANCE # 1........................$1374.00(MCX Rs 20401)
PIVOT..........................................$1362.00(MCX Rs 20298)
SUPPORT# 1............................. .$1350.00(MCX Rs 20184)
SUPPORT # 2............................ .$1341.00(MCX Rs 20085)

MY COUNTS DEC SILVER 11/29
RESISTANCE # 2.........................$28.04(MCX Rs 42286)
RESISTANCE # 1.........................$27.37(MCX Rs 41638)
PIVOT...........................................$26.86(MCX Rs 41146)
SUPPORT # 1...............................$26.18(MCX Rs 40497)
SUPPORT #..................................$25.70(MCX Rs 40006)

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 26 NOV

The North Korea-South Korea tensions are still bullish for the gold market.
There were no new military clashes between North Korea and
South Korea Wednesday. However, the U.S. has sent an
aircraft carrier to the region, in a show of support for South Korea.
This is a potentially major geopolitical development that bears very
 close monitoring in the coming days and weeks.
The situation will likely continue to prompt safe-haven
buying of gold, or at least limit selling interest in the
yellow metal for the near term.

Fundamentally, I believe that COMEX GOLD FUTURES will
 rebound higher as we head into the end of the 4th
 quarter and the start of the 1st quarter due to the
 U.S. Dollar being susceptible to possible sharp sell-offs
causing inflationary fears.

Technically, COMEX GOLD FUTURES are still in a long-term
SUPER TREND higher indicated to me by the market holding and trading above
both the 9 week MOVING AVERAGE and the 20 week
MOVING AVERAGE, as the MA's point higher.
Also notice the increased volume.



Traders appeared to take profits ahead of the Thursday
Thanksgiving Day Holiday. Volume remained crisp as traders
received strong Initial Jobless Claims data as the Department
of Labor revealed that initial weekly claims were 407.000 far
far better than the 435,000 analysts projected....I believe
many traders still believe the Peoples Bank of China intend
to hike interest rates and liquidated their LONG positions in favor
of banking profits.

BE CAREFULL IN INTRADAY TRADES A PROFIT BOOKING MAY SEEN

US DATA : FRIDAY  11/26.
EXPORT SALES...............6:00 PM

MY COUNTS FOR 11/26 DECEMBER GOLD

RESISTANCE # 2.........$1386.00(MCX Rs 20630)
RESISTANCE # 1.........$1379.00(MCX Rs 20514)
PIVOT...........................$1374.00(MCX Rs 20440)
SUPPORT # 1...............$1367.00(MCX Rs 20323)
SUPPORT # 2...............$1362.00(MCX Rs 20250)


RECOMMENDATION : BUY NEAR Rs 20310


MY COUNTS FOR 11/26 DECEMBER SILVER

RESISTANCE # 2.........$28.02(MCX Rs 42450)
RESISTANCE # 1.........$27.78(MCX Rs 42195)
PIVOT...........................$27.44(MCX Rs 41798)
SUPPORT # 1...............$27.19(MCX Rs 41526)
SUPPORT # 2...............$26.86(MCX Rs 41129)

RECOMMENDATION : BUY NEAR Rs 41350

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 24 NOV

  After bumping up against the 20 day ma for three days,
it finally cleared it today and rallied to 1385.00. 
Just looking at the chart, it appears that gold is attempting to
start a new wave up.  If it follows through, it should
take out the high at 1426.00.  That would give a projection
up to 1450.00.  If it fails around 1400.00, it could then be
setting up for a more extensive sell-off than seen currently. 

The weekly chart formed a key reversal top two weeks ago.
 It has been gold's pattern that when it has done that in the past,
the sell-off is more than what has occurred currently. 
This current rally could be very telling.

 Earlier in the week North Korea revealed their hidden
uranium enrichment program which indicates that their nuclear capabilities
are much further along than previous estimates.....
Gold is often a refuge for investors during warring environments...

The third quarter GDP was revised up  2.5% one tenth better
than analysts forecasted.

US DATA PRODUCED TODAY : 11/24
DURABLE GOODS....................6:00 PM
INITIAL JOBLESS CLAIMS......6:00 PM
NEW HOME SALES..................6:00 PM

MY COUNTS 11/24 DECEMBER GOLD
RESISTANCE # 2..........$1391.00 (MCX Rs 20730)
RESISTANCE # 1..........$1386.00 (MCX Rs 20640)
PIVOT............................$1371.00 (MCX Rs 20395)
SUPPORT # 1................$1361.00 (MCX Rs 20241)
SUPPORT # 2................$1352.00 (MCX Rs 19996)

MY COUNTS 11/24 DECEMBER SILVER
RESISTANCE # 2...........$28.20 (MCX Rs 42663)
RESISTANCE # 1...........$27.90 (MCX Rs 42336)
PIVOT.............................$27.47 (MCX Rs 41833)
SUPPORT # 1.................$27.15 (MCX Rs 41476)
SUPPORT # 2.................$26.70 (MCX Rs 40960)

RECOMMENDATION : KEEP BUYING UNTILL ABOVE  Rs 20305

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 22 NOV

Gold prices ended lower on the week after a stronger dollar put pressure on precious metals prices, but the markets managed to hold above key support levels which should give support into next week’s action.
.
After being bloodied and bruised for several weeks, the dollar rallied a bit versus the euro this week over jitters regarding the solvency of Irish banks. The European Union, the International Monetary Fund and the United Kingdom all pledged to help the beleaguered banks, even as the Irish government attempted to fend off the aid.

Dollar strength weighed on precious metals and kept prices under $1,400 the entire week. “That doesn’t mean this market is bearish, not all, this market is still extremely bullish, but we’re in a correction with extreme volatility,”

The fact December gold was able to scratch out a close over $1,350 is a positive sign going into next week, said Bob Haberkorn, senior market strategist, Lind-Waldock, and gold could try to go back and retest the $1,400 area.

.
Precious metals prices also sagged over worries of a Chinese interest rate hike. Early Friday, China said it would tell banks to raise their reserves, effective Nov. 29, but markets cut early losses. Haberkorn said early chatter that the CME Group, which owns the Comex, would raise margins again pulled down prices, but when that did not materialize the market shook off some of the losses.

He said going forward that the markets will continue to keep an eye on any political tensions between the U.S. and China, especially after Federal Reserve Chairman Ben Bernanke’s speech overnight that chastised an unnamed country for undervaluing its currency and potentially curbing global growth.

“The next thing we need to watch is the political and economic fight with China. If there are global concerns again, that could lift the dollar. But gold and silver might rally regardless of the dollar, much like it did this spring when the Europe (fiscal worries) happened,” Haberkorn said.

 

GO HERE

I believe investors are still looking to China to see if they
intend to raise their Interest rates once again. The China
Central Bank unexpectedly raised their benchmark lending
rates 0.25 percentage rates on October 19,2010 for the first
time in three years. According to Chinese officials the rate was
raised as an attempt to curb the countries historic high prices
for commodities.(Slow their inflation)...Many analysts expect
China's Banks to raise their rates again.....

When Central Banks raise interest historically causes Gold and
Silver to tumble....However, if prices to drop I believe there will be
plenty of bullion buyers including Central banks looking to increase
their reserves.....China and South Korea have both expressed
interest in doing so......


MY COUNTS FOR 11/22
DECEMBER GOLD
RESISTANCE # 2..............$1374.00(MCX Rs 20219)
RESISTANCE # 1..............$1363.00(MCX Rs 20145)
PIVOT...............................$1352.00(MCX Rs 20031)
SUPPORT # 1....................$1341.00(MCX Rs 19959)
SUPPORT # 2....................$1330.00(MCX Rs 19843)

DECEMBER SILVER
RESISTANCE # 2............ $28.03(MCX Rs 42198)
RESISTANCE # 1.............$27.60(MCX Rs 41733)
PIVOT..............................$26.97(MCX Rs 40905)
SUPPORT # `1..................$26.55(MCX Rs 40440)
SUPPORT # 2...................$25.91(MCX Rs 39910)

RECOMMENDATION : WORK BETWEEN SUPP AND RESI

RAHUL KUMAR

GOLD Analysist

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DAILY GOLD TREND FOR 19 NOV

Yesterday gold open with huge gapup opening but could not
maintain the support. Gold gained support off U.S Dollar weakness as
investors showed renewed interest in buying the yellow metal.
Ttraders are using daily economic data to determine their market strategies.
Yesterday Department of Labor released data  showing the new
US Initial Jobless Claims rose 2,000 to 439,000.
Thats support the bulion price slightly.

Investors are still looking to China to see if they
intend to raise their Interest rates once again.
Many analysts expect China's Banks to raise their rates again.....


MY COUNTS 11/19 DECEMBER GOLD

RESISTANCE # 2................$1372.00(MCX Rs 20190)
RESISTANCE # 1................$1363.00(MCX Rs 20085)
PIVOT..................................$1350.00(MCX Rs 20005)
SUPPORT # 1......................$1337.00(MCX Rs 19900)
SUPPORT # 2......................$1324.00(MCX Rs 19820)

RECOMMENDATION : BUY GOLD NEAR 20020

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 18 NOV

Yesterday gold move  all day between
positive and negative for the session. This was due to news
and US data released throughout the session as traders and investors
alike are trying to absorb and decipher all the global data.
Tuesday,  avalanche sell-off was directly linked to indications
that the Chinese Central Banks were considering raising their
interest rates again.

ANALYSIS

In my openion Gold must trade between $1342-$1350, a rangebond
market must be seen for few more session also open an eye for today
US data release.

Today reports

INITIAL JOBLESS CLAIMS........6:00PM

EXPORTS SALES.........................6:00PM

MY COUNTS FOR 11/18....DECEMBER GOLD

RESISTANCE # 2..................$1352.00 (MCX Rs 20112)
RESISTANCE # 1..................$1344.00 (MCX Rs 20016)
PIVOT....................................$1337.00 (MCX Rs 19948)
SUPPORT # 1........................$1330.00 (MCX Rs 19852)
SUPPORT # 2........................$1322.00 (MCX Rs 19784)



RECOMMENDATION :  SELL ON HIGHER LAVEL UNTILL GOLD BELOW Rs 20100

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 17 NOV

COMEX GOLD FUTURES have pulled back to in my view a very critical support area on both the weekly and the daily charts.
MY ANALYSIS
Fundamentally, Although COMEX GOLD FUTURES have sold off dramatically here in the last few days, I believe that COMEX GOLD FUTURES will rebound higher as we head into the end of the 4th quarter, due to the U.S. Dollar being susceptible to possible sharp sell-offs causing inflationary fears.

Technically, COMEX GOLD FUTURES have pulled back to or below support on both the daily and weekly charts.   As COMEX GOLD FUTURES pull back to these Moving Averages in my opinion, it presents an opportunity to BUY at days low level.

REPORTS

CPI ...........................06:00PM

MY COUNTS FOR 11/17 DECEMBER GOLD
RESISTANCE # 2...........$1380.00 (MCX Rs 20306)
RESISTANCE # 1...........$1360.00 (MCX Rs 20121)
PIVOT.............................$1345.00 (MCX Rs 19970)
SUPPORT # 1..................$1322.00(MCX Rs 19785)
SUPPORT # 2..................$1310.00(MCX Rs 19634)

RECOMMENDATION : UPDATE AT 4:00PM

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 16 NOV

 Ireland would request aid from the Eur750 billion emergency
 loan program created by the IMF and the European Union last week.

Portugal, Greece, and Ireland are carrying heavy debt and the
global markets are concerned that their borrowing practices
will cripple the Euro region’s economy.

The jewelers of India have been actively buying price on dips.
The Wedding season extends through December and
physical demand from India to remain steady....

Reports

PPI ................ 06.00PM



MY COUNTS FOR 11/16 December Gold

RESISTANCE # 2...............$1391.00(MCX Rs 20409)
RESISTANCE # 1...............$1380.00(MCX Rs 20314)
PIVOT.................................$1368.00(MCX Rs 20190)
SUPPORT # 1.....................$1355.00(MCX Rs 20095)
SUPPORT # 2.....................$1343.00(MCX Rs 19971)

RECCOMENDATION : SELL ON HIGHER LEVEL

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 15 NOV

Last Friday  the Gold market settled at $1365.50...($37.50 lower on the session). This avalanche sell-off was fueled from rumors that the Chinese Banks were
looking to RAISE rates again in order to curb it's inflationary concerns
This may be seen as rebuttle to the FOMC's quantitativr policy...
Also it may be seen as tool to push Gold prices lower in order for
the Chinese to purchase bullion lower. The Chinese financial officers
have certainly declared their interest to build their Gold reserves
to the levels of the United States.....
ONCE AGAI it will be very interesting to see if this significant
sell-off will bring a strong demand for physical bullion...

More bad news from the European union as the debt spread in Ireland
appears to be widening...Chances are the Irish Banking System
may be in worse shape than originally thought.....
This is prompting savvier investors from the Euro Region
to buy Gold as a "safe haven" investment.....
Chinese government officials are continuing their criticism of the
"loose" monetary policies abroad, particularly the recent
"quantitative easing"  policy revealed last week from the FOMC....

* The Peoples Bank of China revealed today that as of November 16th
it will raise the commercial bank reserve requirement by .50 basis points...
This helped fuel the sell-off today as anytime you mention Central Banks raising rates
Gold and Silver will usually tumble...However, the Chinese Trade Surplus reading is the
second highest ever on a monthly basis....This is an indication that the
Peoples Bank of China may be looking to increase their Gold reserves...

The CME Group (The World's Largest Futures Exchange) sent letters to
member firms and others on Tuesday stating they would be raising
the margin requirements for trading Silver.....The increase was significant enough to force
traders to sell / profit take to meet margin requirements.....

MY COUNTS FOR 15/11  DECEMBER GOLD

RESISTANCE # 2.....................$1424.00(MCX Rs 20450)
RESISTANCE # 1.....................$1399.00 (MCX Rs 20261)
PIVOT......................................$1381.00 (MCX Rs 20130)
SUPPORT # 1...........................$1349.00(MCX Rs  19950)
SUPPORT # 2...........................$1327.00(MCX Rs  19800)

RECOMMENDATION : LOOK FOR SELL AT HIGHER LEVEL

RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 12 NOV

Market looks upto G20 meet announcement ..........................

MY COUNTS FOR 11/12 DECEMBER GOLD

RESSISTENCE # 2.......................... $1424 (MCX Rs 20596)
RESSISTENCE # 1.......................... $1417 (MCX Rs 20484)
PIVOT ............................................ $1404 (MCX Rs 20372)
SUPPORT # 1................................. $1390  (MCX Rs 20259)
SUPPORT # 2................................. $1382  (MCX Rs 20147)



RAHUL KUMAR
GOLD Analysist
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DAILY GOLD TREND FOR 11 NOV

Due to tomorrows Banking Holiday (Veterans Day) the united States
Department of Labor released better than expected Initial Jobless Claims
data showing first time claims to be - 435,000 better than the projected 450,000.
Also the U.S Balance of Trade was a deficit of $44 Billion...This was expected
to be a deficit of $45 Billion......

* The Peoples Bank of China revealed today that as of November 16th
it will raise the commercial bank reserve requirement by .50 basis points...
This helped fuel the sell-off today as anytime you mention Central Banks raising rates
Gold and Silver will usually tumble...However, the Chinese Trade Surplus reading is the
second highest ever on a monthly basis....This is an indication that the
Peoples Bank of China may be looking to increase their Gold reserves...

The CME Group (The World's Largest Futures Exchange) sent letters to
member firms and others on Tuesday stating they would be raising
the margin requirements for trading Silver.....The increase was significant enough to force
traders to sell / profit take to meet margin requirements...



MY COUNTS FOR 11/11 DECEMBER GOLD

RESISTANCE # 2................$1420.00 (MCX Rs 20480)
RESISTANCE # 1................$1411.00 (MCX Rs 20354)
PIVOT..................................$1397.00 (MCX Rs 20237)
SUPPORT # 1......................$1384.00 (MCX Rs 20102)
SUPPORT # 2......................$1375.00 (MCX Rs 19975)

MY COUNTS FOR 11/11 DECEMBER SILVER

RESISTANCE # 2................$28.21 (MCX Rs 41517)
RESISTANCE # 1................$27.87 (MCX Rs 40900)
PIVOT..................................$27.15 (MCX Rs 40270)
SUPPORT # 1......................$26.51 (MCX Rs 39560)
SUPPOER # 2......................$26.03 (MCX Rs 38940)


RAHUL KUMAR
GOLD Analysist

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DAILY GOLD TREND FOR 08 NOV

The 'Quantitative Easing" plan revealed by the FOMC Wednesday 11/3

has certainly given investors the confidence to buy Gold and Silver

as a "safer haven" to protect their wealth.

Noteworthy News This Week.......

FOMC MEETING.....

The Fed plans to expand asset purchases by $600 billion by

the end of June 2011....Which probably means the present

benchmark interest rates will remain unchanged....

On Thursday (After the Fomc news was deciphered)

Another strong rebound from the precious metals Thursday

as traders view the Quantitative easing through June 2011

as sign the U.S Dollar will remain under siege and it is probably

also an indication that the benchmark interest rates will remain low.

This does not mean there will not be positive U.S Dollar news in the

future it simply means that the news was viewed as bullish precious

metals for the short term. 

The gold market also used the poor economic data on Thrusday to

help fuel incredible rally. The initial Jobless Claims rose

20,000 to 457,000 from last week and the U.S Productivity rose by 1.9%

in the third quarter. Both economic numbers were higher than projections.

Despite some very strong UNEMPLOYMENT data on Friday

(151,000 more jobs than forecasted) the global investor was still

using the FOMC "quantitative easing policy" as their guide to buy Gold....

.

The "BARGAIN HUNTING BUYING" kept the gold buoyant and helped to entice global

investors into the market as the world watched the resiliency of Gold.....

The  Wedding season in India continues through December.....

MY COUNTS FOR 11/8....DECEMBER GOLD

RESISTANCE # 2.............$1412.00(MCX Rs 20075)

RESISTANCE # 1.............$1403.00(MCX Rs 20026)

PIVOT   .............................$1388.00(MCX Rs 19962)

SUPPORT # 1...................$1378.00(MCX Rs 19918)

SUPPORT # 2...................$1360.00(MCX Rs 19861)

RECOMMENDATION : Buy near and above  19900 with SL 19848

RAHUL KUMAR

GOLD ANALYSIST

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DAILY GOLD TREND FOR 04 NOV

(This the preview of actual software "AUTOTRADE" )

The traders nervously awaited news from the FOMC.
These unchartered price levels have caused traders to trade very
defensively and to take profits when available. Through My openion
the thinking of OVERBOUGHT range may be done here.
The over whelming support continues to be the strong demand
for physical bullion. it will once again be interesting to see if the
Asian sector steps up and buys physical gold at these lower levels.

FOMC MEETING.....
On November 3, 2010, the FOMC
decided to expand the Federal Reserve's holdings of securities in the
SOMA to promote a stronger pace
of economic recovery and to help ensure that inflation, over time,
is at levels consistent with its mandate......

The Fed plan to assest purchesed by $600 billion by
the end of June 2011....Which probably means the present
benchmark interest rates will remain unchanged....

REPORTS: 11/4
US EXPORT SALES......................6:00PM
US INITIAL JOBLESS CLAIMS........6:00PM
US PRODUCTIVITY.......................6:00PM

MY SWING NUMBERS 11/04
RESISTANCE # 2.........$1379.00(MCX Rs 19993)
RESISTANCE # 1.........$1357.00(MCX Rs 19731)
PIVOT...........................$1342.00(MCX Rs 19525)
SUPPORT # 1...............$1321.00(MCX Rs 19257)
SUPPORT # 2...............$1301.00(MCX Rs 19042)

RECOMMENDATION : Buy above @ 19540 (Strongly recommended)

RAHUL KUMAR
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DAILY GOLD TREND FOR 03 NOV

(The preview of actual intraday trading software "AUTOTRADE" )

To day FOMC announce the meeting result at 09.00pm
this will give a breakout of gold trend

.It will also be interesting tosee today if there is buying
 interest from the Asian sector as they have been
aggressive buyers during the previous market price dips.

With the "DIWALI festival only 2 days away I would imagine
the jewelers of  India will need to stock and re-stock their
shelves as the Hindu Holiday is auspicious for an insatiable
demand for both Gold and Silver....

Today's trading session will very technical , its must trade
between RESISTANCE and SUPPORT levels....on breakout
of these level will decide the maket trend

REPORTS: 03/11
FOMC MEETING (last day) announce................ 09.00PM

MY SWING NUMBERS 03/11.......December Gold

RESISTANCE # 2....................$1366.00(MCX Rs 19845)
RESISTANCE # 1....................$1361.00(MCX Rs 19780)
PIVOT....................................$1355.00 (MCX Rs 19725)
SUPPORT # 1.........................$1346.00(MCX Rs 19624)
SUPPORT # 2.........................$1342.00(MCX Rs 19567)


 RECOMMENDATION : (KEEP AN EYES ON FOMC ANNOUCEMENT)

RAHUL KUMAR / GOLD Analysist

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