Bearish trade for Gold

In today's trading session news of all sorts waffled the Gold market from start to finish.
Gold opened at634.20 rallied up over 636.00 and closed at 628.50 one Dollar off it's low.
The Gold community had plenty of chances to use middle-east and United Nations woes to run the market to the moon. With news of Israeli troops rolling into the Gaza Strip capturing a Hamas leader, German Chancellor Merkel saying"Iran's response to theUnited Nation was unsatisfactory", and rumors of North Korea about to test an under-ground nuclear explosion should have been plenty to fuel a rally. But the Gold sector chose to use the promise from South African Gold mine producers to increase their production in the years 4th quarter(supply & demand ) more Gold = lower prices. However the Chinese are still buying physical Gold and the country of India is entering it's wedding season and are also buying physical Gold.

The following are my guideline numbers for 8/25 December Gold.........


resistance # 2 .............................................643.50
resistance # 1 ..............................................635.50
pivot .............................................................631.50
support # 1 ..................................................623.50
support # 2 ..................................................619.50


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible position to show market direction