GOLD INTRA DAY

SELL GOLD 05FEB2013 31400 WITH SL 31425 TGT 31350/31300/31250 DEPEND ON TREND BUY GOLD 05FEB2013 ABOVE 31425 SL 31350 TGT 31500/31540/31600

Morgan Stanley's best picks for 2013: Gold, Silver !!!

Gold, silver and corn will outperform other raw materials next year as a weaker dollar and rising investor demand bolster precious metals while supply curbs aid grains, Morgan Stanley said, listing top picks for 2013. Silver will track gold, which is poised to gain on low real interest rates, buying by central banks and geopolitical uncertainty, analysts including Peter Richardson and Hussein Allidina wrote in a report on Thursday, reiterating an October call. Corn and soya beans should benefit from harvest delays in South America, they said. The bank is bearish on aluminum, sugar, nickel and uranium as supplies are set to outpace demand. Morgan Stanley joins Goldman Sachs Group in predicting the so-called super-cycle isn't over. "Higher prices in recent years have brought both a supply and demand response, bringing many to call for the end" of the super-cycle, they wrote. Gold may average $1,853 an ounce in 2013, while silver may be $35 an ounce, Morgan Stanley said. That compares with gold's average of $1,668 so far this year and $31.1542 for silver. Soya beans may average $15.70 a bushel in 2012-2013, it said.

GOLD INTRA OR POSITIONAL CALL

BUY GOLD 05FEB2013 AROUND 31400 WITH SL 31320 TGT 31450/31500/31600

GOLD VIEW

GOLD 05DEC2012 CLOSING 31813.Positionally Support for the Gold is 31560-31420-31220. Immediate resistance for Gold is 32065

GOLD TREND

The Gold is in perfect uptrend .The Gold is now trading in overbought level.In last 1 month volatality is very less and fresh Buy can be considered in the Gold if it close above 32065 or buy with strict stop at 30245.Positionally Support for the Gold is 31500-31234-30840. Immediate resistance for Gold is 32065.

RBI bans bank loans to buy gold

The Reserve Bank today directed banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery, to dissuade people from indulging in speculative activity. "...it is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold mutual funds," RBI said in a notification. No advances should be granted by banks against gold bullion to dealers or traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchase at auctions or speculative holding of stocks and bullion, it said. However, it said banks can provide finance for genuine working capital requirements of jewellers. The decision was taken in view of significant rise in imports of gold in recent years putting pressure on currentaccount deficit. In the 2011-12 fiscal, India's gold imports stood at USD 60 billion and the quantum of import was 1,067 tonnes. In the April-June quarter of the current fiscal, however, gold imports had contracted by 18.4 percent year-on-year to Rs 71,912 crore (USD 13 billion). The Monetary Policy Statement of April 2012 announced the constitution of a Working Group to study issues relating to gold imports and gold loans by Non-Banking Financial Companies (NBFCs) in India. The Working Group, submitted its draft report in August 2012, suggested that other than working capital finance, banks are not permitted to finance purchase of gold in any form.

Gold, silver bounce back on low-level buying

Snapping a two day losing trend, both the precious metals, gold and silver, today bounced back on buying by retailers at existing low levels for the ongoing wedding season amid a firm global trend. While gold rebounded by Rs 175 to Rs 32,175 per 10 grams, silver gained Rs 100 to Rs 61,100 per kg. Traders said emergence of buying at existing lower levels to meet the wedding season demand amid a firm global trend, mainly pushed up the precious metals prices. They said the gold in overseas markets rose following an escalating conflict in the Middle East spurred demand for a investment haven. Gold in New York, which normally sets the price trend on the domestic front, rose by 0.1 per cent to USD 1,714.70 an ounce. On the domestic front, gold of 99.9 and 99.5 per cent purity staged a sharp recovery of Rs 175 each at Rs 32,175 and Rs 31,975 per 10 grams, respectively. The metal had lost Rs 485 in last two sessions. Sovereigns remained steady at Rs 25,500 per piece of eight grams. Silver ready also recovered by Rs 100 to Rs 61,100 per kg while weekly-based delivery shed Rs 55 to Rs 60,900 per kg. The metal had lost Rs 1,100 in last two days.

Gold futures rise on global cues

Gold prices rose by Rs 49 to Rs 31,689 per 10 gm in futures trade today as speculators created fresh positions, taking positive cues from overseas markets. At the Multi Commodity Exchange, gold for delivery in December rose by Rs 49, or 0.15 per cent, to Rs 31,689 per 10 gm, with a business turnover of 403 lots. Similarly, the metal for delivery in February moved up by Rs 53, or 0.17 per cent, to Rs 32,100 per 10 gm, with a business turnover of 36 lots. Marketmen said fresh buying by speculators in tandem with a firm global trend as the weakening dollar boosted appeal for the metal, mainly led to a rise in gold futures. Globally, the gold in Singapore climbed 0.6 per cent to USD 1,723.70 an ounce.

GOLD TREND

Currently Gold is in strong uptrend and the trend is supported with good volume The open interest is not increasing with trend .Positionally Support for the Gold is 31418-31166-31162.Immediate resistance for Gold is 32065.

GOLD INTRADAY LEVELS

Buy is advised above 31674 with a stop at 31315 Below 31238 go for sell Intraday Resistance of GOLD are 31700/31903/31854/31943 Intraday Support of GOLD are 31211/31008/31144/31056

World Gold demand slips 11% in Q3 !!!

Global gold demand fell in the third quarter as investors bought fewer bars and coins and buyers in China held back because of an economic slowdown, an industry group said on Thursday. About 1,085 metric tons of gold was sold worldwide in the three months through September, the World Gold Council said in a report. That's down 139 metric tons, or 11%, from a record 1,223.5 tons in the same period of 2011. Bar and coin purchases slid by nearly a third to 294 tons while jewelry buying dipped 9% to 449 tons. Central bank purchases also slowed. The declines were offset somewhat by rising demand from exchange traded funds that buy gold bars on behalf of investors. Gold, which has risen about 10 percent in the past six months, was trading at $1,725 an ounce. Gold demand in China, the world's second biggest market, "lost further momentum" in the quarter, with demand falling 8% to 176.8 tons as the country's painful economic slowdown hurt consumer sentiment. "This was particularly noticeable among the middle classes whose purchases of 18-carat gold jewelry were among the worst casualties,'' the report said. A slowdown in the number of jewelry stores opening in China, which also sell bars and coins, also hit demand. But the report forecast that China would recover on hopes of an economic stimulus package from the country's new leaders and as the holiday gift giving season approaches. Companies in China would buy gold jewelry and other luxury items to give as bonuses to staff and as a way to thank customers, said Albert Cheng, a managing director at the World Gold Council. India, the world's biggest gold market, rebounded 8% to 223.1 tons as buying picked up again following strikes by jewelers, fewer auspicious marriage days and a new import duty in the first half of the year. Rising prices also prompted people to buy on expectations of further prices increases, the report said.

GOLD INTRADAY LEVELS

Buy gold above 31975 with a stop at 31559 Below 31463 go for sell with stop at 31879 Intraday Resistance of GOLD are 31817/31899/32103/32193 Intraday Support of GOLD are 31620/31538/31391/31302

GOLD TREND

Currently Gold is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend.Positionally Support for the Gold is 31137-31115-31108-31052-31020-30735.Immediate resistance for Gold is 32065

GOLD TREND

The Gold is in perfect uptrend .Currently Gold is in strong uptrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The Gold is now trading in overbought level. The Gold is now trading in overbought level. The oscillator is showing BUY signal For short term The current position is BUY .Positionally Support for the Gold is 31151-31063-30972-30970-30950-30686-. Immediate resistance for Gold is 31864.

Gold prices may rise 20% on Dhanteras....

Gold prices may jump further by 20 per cent to touch Rs 32,500 per 10 gram here on 'Dhanteras', a day considered auspicious for buying the precious metal, bullion traders said. Bullion traders expect that high prices would hit sales in volume terms by up to 30 per cent compared to the last 'Dhanteras' sales. "Gold rates have increased by Rs 270 to Rs 32,040 per ten gram today taking strong global cues. Domestic prices are expected to rise by at least Rs 200-300 to touch Rs 32,500 per ten gram.

Gold may trade in range of 31,200-31,500:

Outlook on bullions, base metals and energy segments: Bullions: Bullion counter may remain sideways with upside bias on safe haven demand. Euro zone concerns are expected to keep upside capped. Meanwhile Dollar index can move in range of 80-82 levels. On domestic bourses, gold can trade in range of 31,200-31,500 while silver can trade in range of 59,000-60,500 in near term. Some fresh safe-haven demand is surfacing this week, amid concerns about the approaching U.S. fiscal cliff and about the European Union sovereign debt crisis. The fresh safe-haven demand in the gold market Thursday was further evidenced by very strong demand at a U.S. government treasury note auction at midday. Base metals: Base metals counter may remain on mixed path as some short covering can be seen after recent fall. Copper can trade in range of 413-419 in MCX while Lead can trade in range of 120-122 in MCX while Zinc may trade in range of 103-104.5 while Nickel may also trade in range of 865-885 in MCX and Aluminium can also trade in range of 103.50-105. Copper edged higher on Thursday in cautious trade ahead of a leadership transition in top metals consumer China, which may result in fresh economic stimulus measures, while concerns about weak demand and the U.S. economy capped the upside. Metals prices were pressured as the euro fell to a two-month low after the European Central Bank kept interest rates at a record low and said the euro zone economy showed little sign of recovering before the year-end. Energy: Crude oil can trade in range of 4,550-4,650 in near term. Crude oil ended higher on Thursday, recovering from a steep plunge in the previous session, but gains were only modest as trepidation over Europe`s economy and looming negotiations over the U.S. fiscal cliff weighed on the market. After U.S. President Barack Obama won a second term on Tuesday, anticipation is high that Democrats and Republicans will move quickly to avert the $600 billion package of automatic spending cuts and tax increases that could crush the U.S. economic recovery.Natural gas may remain on volatile note in range of 193-198 in MCX. Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.