DAILY GOLD TREND FOR 30 DEC

"Is gold a bubble at $ 1400.00?"

" Bullion outlook for the year 2011"

"How to invest in bullion for 2011?"

We are going to publish above articals before 10 Jan 2011 for subscriber's only.



Comex gold future price higher continously  third day
in a row traded up $ 8.00 at 1413.60 an ounce drive by
weakness of US dollar. On Tuesday, the Conference Board
 reported a drop in December consumer confidence
 to 52.5, from 54.3 in November which left the dollar index
under pressure.

Today at 1330 GMT(7.00PM) will offer traders the next clue on
the health of the U.S. labor market when weekly jobless
claims are due for release. The previous week's
data came in at 420,000


The jumps in commodities prices are due to worries
about inflation as the Federal Reserve and other major
central banks around the world are effectively printing
 money and increasing the money supply, which reduces
the value of the currency apart from this a physical demand
for precious metal stayed strong majorly from Asian sector.

Technically the Gold future remain in bullish pattern all trends are
up, market upside objective a retest 7 Dec high 1432.5 headed
towards $ 1450 

The downside should be limited because of weakness in
US dollar index continue support the yellow metals/.  Near short
term support at $ 1405 with a additional support $ 1397.

MY COUNTS FOR 30 DEC FOR FEB GOLD

RESISTENCE # 2............................$ 1422.00(MCX Rs 20861)
RESISTENCE # 1............................$ 1415.00(MCX Rs 20815)
PIVOT ............................................ $ 1408.00(MCX Rs 20749)
SUPPORT # 1................................. $ 1401.00(MCX Rs 20703)
SUPPORT # 2................................. $ 1393.00(MCX Rs 20631)

RECOMMENDATION : KEEP CLOSE EYE ON US JOBLESS CLAIM TODAY AT 7.00PM

RAHUL KUMAR
GOLD Analysist

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