Gold Blog

By Mike Daly
18 November 2009 @ 03:25 pm EDT

Subject: Daly Gold Blog 11/18

Today's Gold Session Closes $1.80 Higher... ($1141.20) Another choppy session filled with volatile swings and record all-time highs ($1153.40 Globex & $1151.20 Comex)... The Comex gold covered a $10.20 range as the Bulls pushed the market higher after CPI prices increased 0.3% for October. This translates to a higher cost of living for Americans. Higher fuel prices led the way. The U.S Dollar inability to maintain momentum also fueled the buying of gold early in the trading session. The Gold sold off late in the session as traders took profit ahead of economic reports tomorrow (11/19)...

REPORTS: 11/19

Export Sales....................7:30 am (CST)

Jobless Claims...............7:30 am (CST)

Existing Home Sales....... 7:30 am (CST)

My swing numbers for Thursday 11/19...December Gold...

RESISTANCE # 2..........$1154.00

RESISTANCE # 1..........$1147.00

PIVOT .........................$1144.00

SUPPORT # 1...............$1137.00

SUPPORT # 2...............$1134.00

For more reports, go to PFG Best

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