RSBL SPOT ALERTS by CR Team Date: 9th Dec 2011

Market Commentary:

Ø Gold opened a little higher at 1743.75/1744.75. An early morning gain to an intraday high of 1755.25/1756.25, after positive jobs data, was erased as the ECB President stated that he did not signal more bond purchases last week. Gold eventually reached an intraday low of 1704.25/1705.25 mid session. Recovering small, gold finally closed the day at 1709/1710.

Ø Silver opened higher at 32.80/32.85 with it reaching an intraday high of 33.21/33.26 quickly after. Collapsing along with the other commodities as the dollar gained, silver eventually reached an intraday low of 31.37/31.42 late in the session. The metal ended the day soon after at 31.50/31.55.

Technical Commentary:

Ø Gold is closing lower today at 1709/10. The metal failed today ahead of Dec 2 high of 1763 and is now threatening downside support at 1700. Key pivot lies at 1693 from last week’s low. A break here opens up 1667. The daily chart has been consolidating into a triangle pattern. A break of either side will likely point to the next medium term direction.

Ø Silver is closing lower today at current 31.60 The metal has failed above 33.00 again for the 10th time since that level broke lower back on November 17. Downside support is seen at 30.71. The sideways movement in Silver suggests a pending breakout. The Gold Silver ratio is pressing back toward key 54.35 (currently at 54.13). This 54.35 represents the 61.8% Fibo of our 68.35 to 31.69 drop. A close through 54.35 opens up 59.70.

Technical levels for 9th Dec 2011:

Metal	Support($/oz)	Resistance ($/oz)
Gold	1,690.87	1,738.47
Silver	30.961	32.706

Economic Calendar:

Date	Economic Indicator	Country	Actual	Forecast	Previous	Effect & Remarks
9th Dec	Trade Balance	USD	Pending at 7:00pm	-43.5	-43.1	If Actual > Forecast = Good for currency. Difference in value between imported and exported goods and services during the reported month.
9th Dec	Prelim UoM Consumer Sentiment	USD	Pending at 8:25pm	65.6	64.1	If Actual > Forecast = Good for currency. Level of a composite index based on surveyed consumers.
8th Dec	Unemployment Claims	USD	381	397	402	As Actual < Forecast = Good for currency. The number of individuals who filed for unemployment insurance for the first time during the past week has decreased.

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.