DAILY GOLD TREND FOR 04 JAN 2011

TODAY LAST DAY TO SUBSCRIBE Rs 1800/-FOR ONE MONTH

Comex Gold future ended a very quiet trading session Monday.
Feb Comex gold last trade $ 1421.60 up $0.20.

The stronger U.S. stock market, including major stock indexes
hitting fresh two-year highs Monday, did work to pull some
investor demand away from the precious metals.
The stock market is doing very well, and the dollar still relatively
weak, investors tried to run the gold but they just failed.  Other recent
economic data also has suggested US growth accelerate futher in 2011

However The dollar index has seen its near-term technical posture weaken
significantly recently, which has encouraged the gold and silver market bulls

Technically Gold market bulls have overall near term technical advantage
A clsose above $ 1430.00 support bullion for further gain.
First resistance is seen at  $1,424.00 and then at $1,432.50.
Support is seen at Monday's low of $1,414.50
and then at $1,408.90.

MY COUNTS FOR 04 JAN FOR FEB GOLD

RESISTENCE #1...........................$ 1429.00(MCX Rs 20890)
RESISTENCE #1...........................$ 1425.00(MCX Rs 20840)
PIVOT ..........................................$ 1419.00(MCX Rs 20787)
SUPPORT #1................................$ 1414.00(MCX Rs 20736)
SUPPORT #2................................$ 1409.00(MCX Rs 20675)

RECOMMENDATION : KEEP  BUYING ON LOWER LEVEL

RAHUL KUMAR
GOLD Analysist

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