Gold Settles $28.20 Higher... ($1822.00)

Today's December Gold futures contract notched another All-time high trading as high as $1829.70. The already technically overbought market continued to rally off continued poor global economic data. Today's trade covered a very vast and volatile $42.90 range. Traders used the continued fragility of the European Union's Banking system chaos to use Gold as their flight to safety choice. Reports that the Federal Reserve of New York was concerned that the European Union was not doing enough to subdue the European debt crisis. Also this week news from the European Union's economy has hit a wall and adding to the global economic fears stating The Gross Domestic Product for the 27 nations that use the EURO Grew at a combined quarterly rate of 0.2%...It was the weakest growth rate in two years.......

Also adding to the buying frenzy was a release from the U.S. Department of Labor stating that the Initial Jobless Claims Rose by 9,000, to 408,000......

MY SWING NUMBERS 8/19

DECEMBER GOLD
RESISITANCE # 2...................$1856.00
RESISTANCE # 1....................$1839.00
PIVOT....................................$1813.00
SUPPORT # 1........................$1796.00
SUPPORT # 2........................$1770.00
VOLUME ...............................183,000

DECEMBER SILVER
RESISTANCE # 2.....................$41.47
RESISTANCE # 1.....................$41.06
PIVOT.....................................$40.60
SUPPORT # 1........................ $40.22
SUPPORT # 2.........................$39.73
VOLUME.................................15,000

Mike Daly / Gold Specialist
PFG 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.