Stock_for_YOU Gold Falls Nearly 3% From Top of $1798 as Italy Fear Spooks Markets TO $1754 lows..

NAMASTE...

WE WERE EXPECTING THIS FALL.. AS GOLD UNABLE TO BREACH $1804-08.. LEVELS I MENTIONED IN PREVIOUS MAIL MAIN THING IS PROFIT TAKING HAPPENED NOW IT MADE LOWS OF $1754 I BELIEVE THE SUPPORT OF $1750 WILL BREACHED IF EURO BREAKS 1.351 TODAY AT EURO SESSION AND IF DOLLAR SURGES ABOVE 78.4-6.. THEN GOLD WILL COME DOWN TO $1734-17 LEVELS AGAIN...

MCX IT TOPPED 29120 LAST WHERE WE BOOKED OUR PROFITS.. AND SHORTED THERE TOO AS IT MADE 28865 AGAIN WE COVERED HELD LONGS TILL 29065 THEN AGAIN WE MADE SHORTS THERE..

AS INR STOOD AT 50.35 TILL TOMORROW MORNING.. TODAY EVENING WE DO EXPECT GOLD STAY LIKE THIS ON COMMEX NEAR LOWS AS EURO AND ITALY DRAMA STILL THERE... I THINK DISCOUNT ON MCX IS 700 POINTS SO I DO EXPECT 28540-620 Levels on MCX AT EVENING EXPECTED..

U.S. gold fell more than 1% on Thursday, tracking losses in spot gold prices in late trading, as growing fears over the stability of Italy and the euro zone sank equities and led to liquidation on the gold market.

Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's insistence on elections instead of an interim government threatened prolonged instability and kindled fears of a split in the euro zone.

The most-active U.S. gold futures contract[GCCV1  1762.50    -29.10  (-1.62%)   ] lost 1.2 percent to $1,770.6 an ounce, and recovered to $1,773.00 by 0012 GMT. It settled at $1,791.6 on Wednesday.

Spot gold 1759.49    -10.05  (-0.57%) inched up 0.1% to $1,761.50.

U.S. stocks tumbled 3 percent in the market's worst day since mid-August on Wednesday, when the 19-commodity Reuters-Jefferies CRB index 318.46    -4.15  (-1.29%) fell 1.3%, snapping five consecutive sessions of gains.

As Italy moved to the spotlight of the euro zone crisis, a deal on forming a Greek national unity government collapsed as the country headed towards an economic abyss, hours after outgoing Prime Minister George Papandreou said he was handing over to a coalition that does not exist.

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