DAILY GOLD TREND FOR 13 JAN 2011

Comex Gold future ended slightly higher Wednesday at $ 1385.80
up $ 1.50 as a weaker dollar index. The U.S. dollar index came
under strong selling pressure Wednesday, as the Euro currency
rallied following the positive results of a closely watched bond
auction by Portugal.

U.S. stock indexes rallying to multi-year highs Wednesday
also pulled some investment demand away from the
safe-haven precious metals.

The recent pullback in gold price has drawn stronger physical
gold demand from Asian Countries, especially India and China.

Most of the traders wait for today economic data to be
released at 07.00PM

TO DAY  DATA AT 07.00PM
 Initial jobless claim
 Exports sales
PPI
US Trade Baance

MY COUNTS FOR 13 FEB 2011

RESISTENCE #2...........................$ 1394.00(MCX Rs 20572)
RESISTENCE #1...........................$ 1389.00(MCX Rs 20486)
PIVOT........................................... $ 1383.00(MCX Rs 20400)
SUPPORT #1................................ $ 1379.00(MCX Rs 20314)
SUPPORT #2................................ $ 1373.00(MCX Rs 20228)

RECOMMENDATION : KEEP CLOSE EYE ON TODAY DATA RELEASE

Happy Trading

RAHUL KUMAR
GOLD Analysist

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