GOLD SETTLES $7.90 HIGHER… ($1241.30)

Today's Gold session rallied to eight week high's as poor economic data continues to send investors into safer haven markets. As stocks fall in Europe, Asia, and here in the U.S savvier investors are moving monies from the equity markets into the precious metals.


During times of crisis Gold and Silver have a history of retaining their value better than most commodities. ¬†India the world's largest consumer of Gold is set to surpass 2009's consumption as early as this month…

The Wedding and Festival season officially begin in September and extend through December. Gold is purchased for the Brides personal outfit and accessories …The ornamentation worn by the brides of India are normally 22 carat Gold… Gold is also the gift of choice for the wedding couple…

Despite high prices it is reported that the citizens of India are buying large amounts of Gold. ¬†The latest rally is all about demand for safer havens….

REPORTS: 8/26 EXPORT SALES………………….7:30 am (CST)

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

My Swing Numbers 8/26

RESISTANCE # 2……….$1250.00

RESISTANCE # 1……….$1245.00

PIVOT……………………..$1238.00

SUPPORT # 1………….. $1233.00

SUPPORT # 2……………$1226.00

Mike Daly / Gold Specialist

PFG BEST

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