Gold Settles $39.70 Higher... ($1891.90)

Today's December Gold Futures contract notched another new All-time high as it traded as high as (1898.60). Traders and investors globally continue to speculate on the global economic climate of the globe and continue to choose the precious metals as their currency of choice... The total lack of confidence regarding the world's currencies are causing savvier investors to safer haven alternative investments primarily tangible commodities such as Gold, Silver, and Diamonds. All eyes will be watching this Friday as Central Bankers will meet in Jackson Hole, Wyoming to discuss the financial state of the world.... The Gold market remains technically overbought and any positive U.S Dollar news released Friday may start a profit taking spree ! It has been reported that Tripoli the capital of Libya is under siege as rebel forces are predicting the ouster of Libyan Chief Colonial Moammar Ghadaffi and his regime. This would enable the country of Libya to begin producing oil again .Libya could once again could start producing 1 million barrels a day within 12 months.... Silver rallied 89.80 today and settled at $43.36.5 ....

Economic Data.....8/23
NEW HOME SALES......9:00 am. Cst.

MY SWING NUMBERS 8/23
RESISTANCE # 2....................$1923.00
RESISTANCE # 1....................$1908.00
PIVOT....................................$1883.00
SUPPORT # 1........................$1867.00
SUPPORT # 2........................$1843.00
VOLUME................................212,000

DECEMBER SILVER
RESISTANCE # 2......................$44.88
RESISTANCE # 1......................$44.13
PIVOT......................................$43.35
SUPPORT # 1..........................$42.59
SUPPORT # 2..........................$41.82
VOLUME..................................28,000

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.