Comex Gold Settles $8.00 Lower Today...(1106.60)

Today's Gold trade produced another all-time high for Gold. The Gold traded as high as $1123.40 on the Globex as news of world wide gold production is decreasing. This tells me producers are expecting higher prices. The U.S Dollar gained some much needed momentum today after the United States Labor Department released a better than expected jobless claims report (502,000) and providing evidence the job market is slowly on the mend as the economy begins its recovery. The Comex covered a $12.90 range today while settling $2.00 off its lows. The day session offered a choppy and volatile sell off as Gold bugs liquidated their positions in the wake of the U.S. Dollar rally.

REPORTS 11/13

EXPORT SALES.................7:30 AM (CST)
U.S. TRADE BALANCE ....7:30 AM (CST)
SWING NUMBERS 11/13... (DECEMBER GOLD)
RESISTANCE #2...................$1122.00
RESISTANCE #1...................$1113.00
PIVOT ...................................$1109.00
SUPPORT #1..........................$1105.00
SUPPORT #2..........................$1100.00

Mike Daly / Gold Specialist
PFG BEST