Gold Settles .50 Cents Higher… ($1298.60)

Today's session covered a very subdued $5.50 range. Despite a weaker U.S Dollar it appeared traders were apprehensive above the $1300.00 level as we are all trading in unchartered territory. I believe traders are waiting for this week's economic data to determine their strategies.


The demand for physical Gold remains high however, many investors appear ready to wait and hope for a price dip before entering the market.  December Silver traded another new high today as it rallied to the $21.64.5 level.

The dual status of the Silver as both a precious metal and an industrial metal has certainly helped support its recent rally.50 % of all silver mined is used for industrial purpose. Silver is used to make batteries, electronics, solar panels, and vital for water purification just to name a few.

Reports:9/28

CONSUMER CONFIDENCE……9:00 AM CST

MY SWING NUMBERS FOR 9/28…..DECEMBER

RESISTANCE # 2…………$1303.00

RESISTANCE # 1…………$1300.00

PIVOT mce_markernbsp; ……………………$1298.00

SUPPORT # 1……………..$1295.00

SUPPORT # 2……………..$1292.00

Mike Daly / Gold Specialist

PFG BEST

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