DAIL GOLD TREND FOR 20 JAN 2011

Comex gold future setteled higher at $ 1370.80 up $ 2.60.
Gold is higher with the renewed dollar weakness, The US
dollar index was under strong selling presure again Wednesday
and hit another fresh two month low.US housing starts fell 4.3%
to a 5,29,000 annual rate last month, lowest since october 2009.

A physical demand from asian sector has also kept
the gold market supported this week.
However, a selloff in other commodities on Wednesday
did limit the upside of gold.

Watch today Chines Inflation data and US jobless cliam

MY COUNTS FOR 20 JAN FOR FEB GOLD

RESISTENCE #2.............................$ 1385.00(MCX Rs 20472)
RESISTENCE #1.............................$ 1377.00(MCX Rs 20436)
PIVOT............................................. $ 1371.00(MCX Rs 20388)
SUPPORT #1.................................. $ 1364.00(MCX Rs 20351)
SUPPORT #2.................................. $ 1356.00(MCX Rs 20305)

Happy Trading

RAHUL KUMAR
GOLD Analysist

Comments me : bestech30@gmail.com