Gold Settles $1.40 Higher... (1365.50)

Today's gold session traded a very quiet technical range. The April (Globex) contract covered $9.40 range on light volume of 96,000 contracts. Traders still appear to cautious as the economic data globally has been tough to decipher The recent and latest rate hike from China should have effected the precious metals to the downside, however savvier investors are seeing these latest hikes as a sign of a possible economic slowdown in China. China , India, and Thailand have all recently raised key interest in an Attempt to slow down their historic rate of inflation. Historically inflation is bullish for precious metals as traditionally Gold and Silver have retained their value better than most commodities...

Bernanke gave a testimony before the House Budget Committee today and below are some of the highlights..... *Inflation made here in the U.S is very very low *Markets don't expect inflation *While there is growing inflation in emerging markets the U.S financial markets are not exhibiting any sign of panic

Economic Data 2/10
EXPORT SALES......................7:30 AM CST.....
INITIAL JOBLESS CLAIMS.....7:30 AM CST.....
WHOLESALE TRADE.............7:30 AM CST.....

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 # 2.....................$30.95
RESISTANCE # 1.....................$30.62
PIVOT.....................................$29.94
SUPPORT # 1.........................$29.59
SUPPORT # 2.........................$28.95
VOLUME ..............................58,000

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

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.