Gold Settles $9.90 Higher Today… ($1234.50)

The Globex Gold market covered a very volatile and choppy $15.90 range as traders continue to choose Gold as their currency of choice. The underlying support continues to come from the overwhelming demand for physical Gold world-wide.

Investors learned that Moody's further downgraded several Greek Banks today as the Euro region continues to battle the ongoing Greece debt crisis… The continued uncertainty in the region has caused investors to use Euro's to purchase Gold….

In my opinionĀ  I feel the average investor has watched and realized that the Gold market has retained better value than most other commodities and it's very appealing.. The investment community seems to be looking at gold as a long term investment………

Wednesday 6/16 Reports:

HOUSING STARTS & PERMITS…………….7:30 am (CST)

PPI………………………………………………………7:30.am (CST)

INDUSTRIAL PRODUCTION………………..8:15 am (CST)

MY SWING NUMBERS FOR 6/16…AUGUST GOLD….

RESISTANCE # 2………………$1246.00

RESISTANCE # 1………………$1239.00

PIVOT……………………………..$1230.00

SUPPORT # 1…………………..$1223.00

SUPPORT # 2…………………..$1214.00

Mike Daly / Gold Specialist

PFG BEST

[email protected]

877-294-3014

312-563-8029

312-775-3014

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