Today's Gold session gained $9.00 and traded a very technical $16.20 range. Investors appeared to choose Gold and Silver as a hedge against inflation. Reports indicated that China's inflation reached its highest levels in six years and the United Kingdom's consumer prices rose to its highest levels in more than two years....

It has been reported that Egypt's military has appointed former Egyptian judge Tareq el-Bishri to lead an eight-member panel including sitting judges, a legal team, and Sobhi Saleh a former lawmaker and member of the banned Islamic group...the Muslim brotherhood. The panels has been selected to amend the constitution and enable more candidates to run for the countries Presidency ....This will hopefully end the work strikes that threaten Egypt's economy.... Demonstrators are seeking a swift resolution here....

Silver is threatening to make new thirty year highs....as it settled at $30.69.6 today....on January 3rd 2011 Silver traded as high as $31.27.5.... Silver has been aided by its dual status as both a precious metal and an industrial metal.....March Silver traded as high as $30.90.5 today.....

Economic data....2/16
Housing starts and permits........................7:30 am CST
PPI ...............................................................7:30 am CST

MY SWING NUMBERS 2/16

APRIL GOLD
RESISTANCE # 2.............................$1387.00
RESISTANCE # 1 ............................$1381.00
PIVOT..............................................$1371.00
SUPPORT # 1.................................$1365.00
SUPPORT # 2.................................$1355.00

MARCH SILVER
RESISTANCE # 2.............................$30.90.5
RESISTANCE # 1........................... $30.47.5
PIVOT.............................................$30.69
SUPPORT # 1.................................$30.48
SUPPORT # 2.................................$30.26

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