RSBL SPOT ALERTS by CR Team Date: 8th Dec 2011

Market Commentary:

Ø Gold opened at 1721.50/1722.5, dipping quickly to its intraday low of 1720.25/1721.25. The metal quickly reversed as the ECB stated that it would consider extra measures to ease liquidity. Gaining throughout the day, gold eventually closed on its intraday high at 1741/1742.

Ø Silver opened on its intraday low at 32.20/32.25. Rallying with gold, silver quickly reached an intraday high of 32.78/32.83. Depressed based metals and crude, however, tempered silver’s gains on the day, with the metal eventually closing at 32.51/32.56.

Technical Commentary:

Ø Gold closed higher today at 1741/42. Support is found at yesterday's low just above 1700, which is also the 38.2% retracement of the September to November move. Resistance sits at the December 2^nd high around 1763.

Ø Silver closed lower at 32.51/56. Price action continues to lack momentum and direction. Support sits at the 38.2% retracement of the up-move from September to October around 32.00, and resistance at the December 2nd high around 33.70. The Gold-Silver ratio closed at 53.50.

Technical levels for 8th Dec 2011:

Metal	Support($/oz)	Resistance ($/oz)
Gold	1,727.86	1,746.38
Silver	32.193	32.741

Economic Calendar:

Date	Economic Indicator	Country	Actual	Forecast	Previous	Effect & Remarks
8th Dec	Unemployment Claims	USD	Pending at 7:00pm	397	402	If Actual < Forecast = Good for currency. The number of individuals who filed for unemployment insurance for the first time during the past week.
7th Dec	Crude Oil Inventories	USD	1.3	-0.8	3.9	AS Actual > Forecast = No consistent effect - there are both inflationary and growth implications. Change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

Disclaimer:

This report contains the opinion of the author, which is not to be construed as investment advices. The author, Directors, other employees of RiddiSiddhi Bullions Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on the information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors and other employees and any affiliates of RSBL cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or an implied promise, guarantee or implication by or from RSBL that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purpose and are not to be construed as investment advices.