Glittering gold price soar.

The price of gold soared to a record high above 1,061.52 dollars an ounce on Thursday beating 1,032.70(March 2008), spurred on by a weakening dollar and doubts about the greenback's future as the world's leading reserve currency.

There is a reported secret plan by Gulf states with China, Russia, Japan and France to stop using the dollar for oil trades, British daily The Independent reported on Tuesday, but the story was denied by a number of nations.

The United Nations meanwhile on Tuesday called for a new global reserve currency to end dollar supremacy, which has allowed the United States the "privilege'' of building a huge trade deficit.

They would instead switch "to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council (GCC).The run-up in gold has been largely driven by weakness in the dollar which makes dollar-priced commodities cheaper for holders of stronger currencies, boosting demand.
Gold traditionally wins support from fears about higher inflation because the metal is widely regarded by investors as a safe store of value.
***Gold Futures is traded on the Thailand Futures Exchange.(latest Thai gold futures price).Trading in gold futures derivatives involve risks.

Tracking the Dow ,Friday.09/10/09(5 market days to Index futures Expiry)
Asian Index Futures:(15 market days to Expiry)
9:30am:--Mild weak open with an early low doji.(Morning Star)

Fed Chairman Bernanke, indicated that U.S. monetary policy could be tightened as a recovery takes hold.

10:30am:--Session high with bearish harami.

The U.S. dollar slowly strengthens and climbs up from the 12-month lows that it registered Thursday.

11:30am;--Another session high with hangman.

The trade balance for August showed a smaller-than-expected trade deficit of $30.7 billion.

12:30noon:--End of morning session with no sign of pullback to current MAV with noticeable bullish hammer of downtrend.

1:30pm:--Another new high with inverted hammer bulls.

Crude oil is currently 0.3% higher at $71.87 per barrel.

2:30pm:--Bullish hammer with harami.

Fed Chairman Bernanke put a bid under the dollar by indicating that that the Fed can't continue its policy accommodation indefinitely for fear of triggering inflationary pressure.

3:30pm:--Reached day's high with pullback to bull pivot supported by a bullish engulfing.

This session's advance was solid and broad-based as every major sector, except telecom (-0.8%), finished higher.

4:00pm:--Unshaven bulls closing with further option finding its upper or lower shadow.
The dragonfly doji of previous session has now transformed into a bullish hammer as a today.

The lower shadow might be utilised in following months when market-makers start threatening the market with interest rates jitters.

The Aussies have started the ball rolling being the first country with rates increase.

High volatility might step in as this is also an excuse for fund managers unwinding positions for the year and the long festive holidays ahead.