Gold Settles $5.90 Higher... ($1763.20)

Another wild ride in the Gold futures market as the December Gold Futures contract traded another vast $65.70 range as traders and investors continue to try and predict what will be released from the Friday Jackson Hole, Wyoming central bank summit. Late yesterday the Chicago Mercantile Exchange Group (CME) once again raised the margin requirements for Gold futures trading 27%....This caused a mass exit of long positions in order to meet the required margin. The sell-off took the December Gold contract as low as $1705.40 early to mid-session...Mid to late session Gold gathered some support and some bargain buying opportunities to help stage a mass late session rally to actually close positive on the day .The volatility and the volume have been incredible. In fact it is a Gold bugs dream come true... Jobless Claims were 417,000...worse than the projected 405,000.

ECONOMIC DATA 8/26
GDP..........7:30 AM CST.

MY SWING NUMBERS 8/26
DECEMBER GOLD
RESISTANCE # 2.....................$1813.00
RESISTANCE # 1.....................$1778.00
PIVOT.....................................$1747.00
SUPPORT # 1.........................$1723.00
SUPPORT # 2.........................$1681.00
VOLUME.................................331,000 *****

DECEMBER SILVER
RESISTANCE # 2.....................$$42.46
RESISTANCE # 1.....................$41.65
PIVOT.....................................$40.23
SUPPORT # 1.........................$39.38
SUPPORT # 2.........................$37.97
VOLUME.................................37,000

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.