Bullion Intraday Road Map for Jan 5, 2012

Gold: last traded price 1616.19 intraday trading range 1590-1645. Intraday trade will remain up but 1620-22 area will act as strong hurdle reversal from 1620-22 zones is likely. Break above 1622 with volumes would signal retest to 1640-45 zones. Immediate support seen at 1608 break would signal decline till 1600-1592 for the day. 1590 will remain key support a break would signal 1580-1560 for very short term.

Silver: last traded price 29.40 intraday trading range will remain between 28.80-30.20 and trend will remain up. Immediate resistance seen at 29.75-29.80 zones break would signal 30.20-30.80 zones. Very short term trend is up so upside break is likely. Immediate support seen at 28.80 break below this will confirm failure of this swing and a short term consolidation can’t be ruled out between range of 26-30.

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