Gold Settled $3.00 Lower Today...($1362.50)

Today's Gold session covered a choppy $15.40 range. The market appears to be awaiting Egyptian President Hosni Mubarak's departure from power. The citizens of Egypt has been demonstrating and rioting in the streets of Cairo as a protest to countries poverty level. The markets have certainly reflected the Egyptian crisis Much of the investor concern to protecting the SuMed pipeline against possible attack due to the civil unrest.... The SuMed stretches over 200 miles and transports crude along the Suez Canal. Obviously if the pipeline is disrupted it could send the price of Crude oil sky rocketing and higher Crude prices will be Bullish for precious metals. Hopefully the transfer of power to vice president Omar Suleiman will help calm the region

Today the Department of Labor reported that the number Of Americans filing first-time claims for unemployment insurance fell to its lowest level since July 2008. INITIAL JOBLESS Claims fell 36,000 to 383,000.... This was much better than the analyst projections of 410,000.....

REPORTS 2/11
U.S TRADE BALANCE............7:30 am (CST)
MY SWING NUMBERS 2/11

APRIL GOLD
RESISTANCE # 2.....................$1375.00
RESISTANCE # 1....................$1369.00
PIVOT ...................................$1360.00
SUPPORT # 1........................$1353.00
SUPPORT # 2........................$1345.00
VOLUME................................104,000

MARCH SILVER
RESISTANCE # 2....................$30.64
RESISTANCE # 1....................$30.37
PIVOT ...................................$30.00
SUPPORT # 1........................$29.72
SUPPORT # 2........................$29.36
VOLUME................................50,000

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

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