Gold Settles $30.60 Lower... ($1861.30)

Today's combined overnight and day session December Gold Futures contract covered a $66.00 choppy and volatile Range. During the night session December Gold explode through the $1900.00 per ounce level and recorded another all-time high trading as high as $1917.90... However, after strong manufacturing data from Germany and China gold traders began to profit take starting an avalanche of selling that is continuing in the post session as the December contract traded as low as $1833.00 as I write. Traders should remain on guard as this market is still technically overbought and extremely TOP HEAVY....With the Friday meeting of the Central Banks in Jackson Hole, Wyoming looming ever closer I expect traders to be more eager to book profits when available. December Silver covered a $2.21.5 and settled $1.03.3 lower finishing the day session at $42.33.................

SIGN UP FOR MY WEBINAR / THURSDAY 3:30...

GOLD'S NO GOOD !

ECONOMIC DATA 8/24
ADVANCE DURABLE GOODS......7:30 AM. CST.

MY SWING NUMBERS 8/24

DECEMBER GOLD
RESISTANCE # 2..........................$1936.00
RESISTANCE # 1..........................$1888.00
PIVOT .........................................$1870.00
SUPPORT # 1..............................$1836.00
SUPPORT # 2..............................$1804.00
VOLUME.......................................300,000 ***

DECEMBER SILVER
RESISTANCE # 2..........................$44.12
RESISTANCE # 1..........................$43.72
PIVOT..........................................$42.90
SUPPORT # 1..............................$41.50
SUPPORT # 2..............................$40.87
VOLUME......................................34,000

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.