Gold (Spot) Intraday Trading for 1 Dec 2010, Buy Above 1381

Our recommendation for 1 December 2010, Gold intraday trading analysis, Long (Buy) positions in Gold above 1381 with targets as 1394 and 1405. Stoploss must be placed at 1375 level.

Why to go Long: Gold has managed to break above 1377 level which is a positive breakout, Gold now seems to touch 1405 level. We are now highly bullish on gold.

Trend for the short term is Consolidation and for medium term its still bullish.

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