Gold Settles $4.50 Higher... ($1881.40)

ANOTHER ALL-TIME HIGH TODAY as the December Gold Futures contract traded as high as $1923.70 in the over night trading session before an avalanche midsession sell-off taking the market as low as $1861.80....Today's Gold market traded a $61.50 range. TRULY AMAZING !!! Today's market conditions were due to the onslaught of world news and speculation.....

The ongoing global uncertainty has helped Gold and Silver to become the world's safe haven choice... The continued fragility in the European Union has investors Scrambling for markets that offer a flight to quality..... The German Finance Minister Wolfgang Schaeuble during a Speech to Parliament warned against continued market turbulence and called on other countries to follow Germany's lead in debt reduction... He also added that there would be NO more emergency aid to Greece If the nation does not receive a positive result from the IMF and ECB inspectors. The market also reacted to the currency invention rumors ..all session long. Obviously the global investors are concerned with recession on both side of the Atlantic....Also concerns about the HIGH /HISTORIC inflation in China....And the question that is being asked in Libya is WHERE IS MUAMMAR GADDAFI HIDING ? It appears the NTC. Libya's National Transitional Council has made finding the fugitive leader their number one priority.... Libya produces 2% of the world's Crude Oil and has not been producing any since the civil war in Libya began..................

The President of the United States will address the Nation ...Thursday evening concerning the unemployment situation....

December Silver closed at $42.25 per ounce for the session......

MY SWING NUMBER 9/7

DECEMBER GOLD
RESISTANCE # 2.................$1951.00
RESISTANCE # 1.................$1916.00
PIVOT.................................$1889.00
SUPPORT # 1.....................$1854.00
SUPPORT # 2.....................$1827.00
VOLOUME...........................380,0000

DECEMBER SILVER
RESISTANCE # 2.................$44.27
RESISTANCE # 1.................$43.26
PIVOT.................................$42.43
SUPPORT # 1.....................$41.42
SUPPORT # 2.....................$41.16
VOLUME..............................60,000

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

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