GOLD AND SILVER NEWS 30 JAN 2012

 

WE ARE WRITING AGAIN AND AGAIN..... GOLD ABOVE $1680(OUR MAGIC FIGURE)  NO PROBLEM FOR BULL TO RALLY  UP TO 1780........$1835......BUT IF GOLD BREAK $1680  LEVEL THEN PANIC SELLING UP TO $!540 IS NOT RULED OUT.

GOLD  NEW UP DATE :Gold prices rose nearly 1 percent on Friday, posting their biggest three-day rally since late October, after a report showing disappointing U.S. economic growth boosted the metal's safe-haven appeal.

Bullion rose above $1,730 an ounce for the first time in seven weeks after data showed the U.S. economy grew less than expected in the fourth quarter.
Gold's gain extended a rally ignited on Wednesday when the Federal Reserve said it would likely keep interest rates near zero until at least late 2014 and that it was ready to offer economy additional stimulus.
(SOURCE:http://www.sify.com/finance/gold-rises-for-third-day-after-soft-u-s-gdp-data-news-gold-mb2mLhcfccb.html?scategory=Gold)

GOLD: BUY : GOLD HAS STRONG SUPPORT LEVEL AT $1722 LEVEL  ,WATCH $1736 LEVEL IF GOLD IS TRADING AND SUSTAIN ABOVE $1736 LEVEL THEN  NO PROBLEM FOR BULL TO  JUMP UP TO $1755,BUT IF GOLD DO NOT SUSTAIN  ABOVE $1736 LEVEL THEN BEAR WILL GOLD CAN FALL UP TO $1705 LEVEL IS NOT RULED OUT.

2nd Resistance Point 1755.80(BULL RALLY-BREAKOUT)
1st Resistance Point         1747.06(SELL IF NOT CROSSING $1747 LEVEL)
Last Price                           1738.32s
1st Support Level                 1722.07(BUY ABOVE $1722 IF SUSTAIN)
2nd Support Level          1705.82(STOP LOSS/DOWN BREAKOUT)