Gold Settles $15.90 Higher ... ($1364.10)

Today's Gold session traded a $19.80 choppy and volatile trading range as investors attempted to decipher the economic data. Once again China raised rates over night however, savvier investors chose to buy the precious metals in anticipation to a report that will indicate an acceleration in inflation to the fastest pace in 2 ½ years.... Inflation is bullish precious metals historically......As gold bugs we are aware that during times of crisis the precious metals tend to retain value better than most commodities...

Also the political situation in Egypt continues to have the eye of investors. This conflict has the stability of the SuMed pipeline in question... Any disruption in the pipeline would most likely send Crude oil prices sky rocketing... Higher Crude oil prices are also Bullish precious metals....

MY SWING NUMBERS 2/9

APRIL GOLD
RESISTANCE # 2...................$1380.00
RESISTANCE # 1...................$1371.00
PIVOT ..................................$1360.00
SUPPORT # 1...................... $1352.00
SUPPORT # 2.......................$1340.00
VOLUME...............................116,000

MARCH SILVER
RESISTANCE 3 2...................$30.95
RESISTANCE # 1...................$30.62
PIVOT....................................$29.94
SUPPORT # 1.......................$29.59
SUPPORT # 2.......................$28.95

Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-563-8029

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