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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