GOLD CLOSES UP 60 CENTS ON THE SESSION... ($1409.90)

Today's Gold session traded a thin $9.10 range as traders continue to monitor the chaos in North Africa and the Middle-east. Traders and investors alike are concerned that the disruption in Libya's oil supply will send Crude oil prices sky rocketing further. Higher Crude oil prices are inflationary and have caused many global investors to choose the precious metals as their safe haven alternative investment... However, the Gold market has not explode to the upside like many thought. In my opinion traders have become very cautious above the $1400 per ounce level due to uncertainty involving central banks raising rates prior to the Egyptian revolution....

The situation in Libya is reaching its apex as Tripoli maybe surrounded... Libya's leader Muammar Gaddafi has remained defiant and has vowed to fight to the end if need be to remain in control of the Libyan government. The revolt has not only grown it has approached his door step as Tripoli has become the latest battle ground.

ECONOMIC DATA 3/1
CONSTRUCTION SPENDING...........9:00 AM (CST)
MANUFACTURING INDEX..............9:00 AM (CST)
MY SWING NUMBERS 3/1

APRIL GOLD
RESISTANCE # 2...................$1421.00
RESISTANCE # 1.................. $1416.00
PIVOT ..................................$1412.00
SUPPORT # 1.......................$1406.00
SUPPORT # 2.......................$1403.00
VOLUME ..............................95,000

MARCH SILVER
RESISTANCE # 2.....................$34.38
RESISTANCE # 1.................. $34.09
PIVOT .....................................$33.67
SUPPORT # 1.........................$33.38
SUPPORT # 2.........................$32.96

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

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