Gold Settles $5.80 Lower ….($1235.00)

Today's Globex Gold traded a vast $22.00 range today as traders were uncertain of the intentions from the FOMC two day meetings. The FOMC has decided to leave rates unchanged for a extended period. In the recent week's there was a hint from Central Bank boss's that they were thinking of raising rates. However, due to the slow job growth and low inflation the FOMC decided to keep rates unchanged.

The Purchase of new homes in the United States dropped in May to its lowest level on record. Sales dropped 33% much worse than the 19% projected by economists.

There are unsubstantiated reports from an Iranian news agency: There are reports that a large American Military force has massed in Azerbaijan on the northwest border of Iran. This coincides with a report the Pentagon confirmed over the weekend regarding "an unusually large U.S. fleet" sailing through the Suez Canal. Iran has been boasting to the world that they possess 17 kg of 20% enriched uranium ready…. KEEP a very close eye on this situation!!!!

REPORTS…6/24

EXPORT SALES……………………….7:30 am (CST)

INITIAL JOBLESS CLAIMS……….7:30 am (CST)

MY SWING NUMBERS 6/24….August Gold

RESISTANCE # 2………………..$1258.00

RESISTANCE # 1………………..$1247.00

PIVOT……………………………….$1236.00

SUPPORT # 1…………………….$1225.00

SUPPORT # 2…………………….$1214.00

Mike Daly / Gold Specialist

PFG BREST

[email protected]

312-563-8029

312-775-3014

877-294-4669

*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*