Gold Settled $2.60 Lower... ($1829.10)

Today's December Gold Futures covered a choppy $18.10 range as traders used today's data to scalp the market as it traded in a very technical range. It is my opinion that savvier traders are awaiting tomorrows Unemployment Data. Today's Initial Jobless number was virtually a non -event. The weekly report on Initial Jobless Claims was 409,000. This was projected to be 410,000. Traders and investors alike will be looking toward president Obama's television speech next Thursday as he will address the nation's Unemployment woes among other economic conditions. Hopefully this will reveal a better outlook than recent Jackson Hole, Wyoming central bank summit that certainly was a disappointment and revealed no no apparent game plan.....

FRIDAY 9/2 ECONOMIC DATA :
UNEMPLOYMENT..................7:30 AM CST
MY SWING NUMBERS 9/2

DECEMBER GOLD
RESISTANCE # 2..................$1844.00
RESISTANCE # 1..................$1837.00
PIVOT..................................$1826.00
SUPPORT # 1......................$1819.00
SUPPORT # 2......................$1808.00
VOLUME..............................121,000

DECEMBER SILVER
RESISTANCE # 2...................$42.22
RESISTANCE # 1...................$41.88
PIVOT...................................$41.54
SUPPORT # 1.......................$41.20
SUPPORT # 2.......................$40.86
VOLUME...............................24,000

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

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