Gold Settles $5.30 Higher …($1253.40)
Today’s Gold session covered a fairly quiet
$9.90 range as traders were sidelined awaiting
tomorrows Unemployment Data…
Today’s Initial Jobless Claims dropped by 6,000 –
472,000. Legislators and Investors alike will be
monitoring tomorrows data due out at 7:30 am (CST).
The trend continued as the Asian sector once again were
active buyers (in the night session)after a price dip
in the day session…(Festival & Wedding season buying)…
The European Union’s Central Bank Jean-Claude Trichet
defended the continuation of low and unchanged rates
and stated the European Central Bank will extend
unlimited loan offerings into 2011…..
FOMC Chairman Ben Bernanke admitted the FED was slow
to identify and address subprime abuses…and continued to say
that Regulators should have done a better job before
the crisis……These are the reasons that investors lack confidence
in the fiat currencies and continue to use Gold & Silver
as “SAFE HAVEN” alternative investments…………
REPORTS: FRIDAY 9/3
**UNEMPLOYMENT**……7:30 am (CST)
MY SWING NUMBERS 9/3 (DECEMBER GOLD)
RESISTANCE # 2………………$1261.00
RESISTANCE # 1………………$1257.00
PIVOT ……………………………$1251.00
SUPPORT # 1………………….$1247.00
SUPPORT # 2………………….$1241.00
Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-563-8029
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
