Technical:
Gold has not entered down trend; still remains bullish,
though weak.
Unless it crosses $ 1770 per ounce, it is unlikely to go up
at great speed to retest all time high of $1922. The reversals are expected @
$1640, $1660 and/ or $1690.
Being weak, it is highly likely to touch lower levels @
$1460, $1370 and/ or $1311.
The price is likely to be range bound during the first half
of 2012. The range is $ 1500 and $ 1700. It means that one may buy if the price
approaches $1500 and sell when the price approaches $ 1700 with stop losses @ $
1450 and $ 1750 respectively.
Fundamental:
Euro region is getting worse and there is no short term
solution, no solution seen for medium term apart.
BRICS is not doing as well as they did; India and China
It is not advisable
yet to short Gold.
