Gold Report by Mike Daly 19/10/2009

19 October 2009 @ 03:21 pm EDT

Subject: Daly Gold Report

Today's Gold Market Settles $6.60 Higher... ($1058.10) Mondays Gold trade was very choppy and made a late surge to close higher on the day. A weaker U.S Dollar and higher Crude oil prices ($79.00 plus ...November Crude per Barrel) are fueling the investors choice to acquire a hard currency as flight to a "safe haven "continues. The market (technically) still appears to be a bit TOP Heavy and is in need of new buyer momentum if indeed its going to continue the present "bull run" to $1100.00 +. There were probably many Gold Bugs on the side-lines today waiting on the Housing Starts and Permits report. Reports 10/20:

Housing starts and permits..........7:30 am (CST)

PPI..........................................7:30 am (CST)

The following are my swing numbers for 10/20...

(DECEMBER GOLD)

RESISTANCE # 2................$1066.00

RESISTANCE # 1................$1062.00

PIVOT...............................$1055.00

SUPPORT # 1.....................$1051.00

SUPPORT # 2.....................$1044.00

Mike Daly / Gold Specialist

PFG BEST

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