Gold Settled $2.70 Higher Today… ($1368.20)

Today's day trading session covered a choppy and volatile$20.10 range as news from the European Union has investors buying Gold as a safer haven investment.


Recent spikes during last week raised concerns that Ireland would request aid from theEur750 billion emergency loan program created by the IMF (International Monetary Fund) and the European Union. Portugal, Greece, and Ireland are carrying heavy debt and the global markets are concerned that their borrowing practices will cripple the Euro region's economy….

The Asian sector is still enjoying their Wedding season and the jewelers of India have been actively buying price dips…..

The Wedding season extends through December and I expect the physical demand from India to remain steady….

REPORTS 11/16….

PPI………………………….7:30 am (CST)

Industrial Production…….8:15 am (CST)

HIGH…..$1376.60

LOW…..$1356.50

CLOSE..$1368.20

MY SWING NUMBERS 11/16 December Gold

ESISTANCE # 2……………$1387.00

RESISTANCE # 1……………$1378.00

PIVOT………………………….$1367.00

SUPPORT # 1………………..$1358.00

SUPPORT # 2………………..$1347.00

Mike Daly / Gold Specialist

PFGB BEST

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312-563-8029

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