Gold Settles $39.90 Higher ... ($1857.50)

Another choppy , volatile , and huge ($52.50) range as traders and investors alike await President Obama's television address to the nation tonight. The volatility of the precious metals is suggesting that the Global investor is uncertain and less than confident in the world's economic climate and therefore choosing Gold and Silver as their safe haven alternative investment. There has been bargain buying opportunities off these recent Price dips and it appears the Asian sector (primarily India) has been purchasing bullion on these dips.

As we Gold bugs are aware we are in the early stages of the festival and wedding season in India...The demand for the precious metals during this season is almost insatiable. Causing the jewelers of India to stock and re-stock their shelves in order to meet the demand. The weekly report on Initial Jobless Claim was 414,000... This was projected to be 405,000 ....

European Central Bank Chief Jean-Claude Trichet was quoted As saying DOWNSIDE RISKS TO THE EURO HAVE INTENSIFIED and UNCERTAINTY IS PARTICULARLY HIGH .........

FOMC Chairman Ben Bernanke during a speech in Minnesota Reflected concern over the diminishing confidence from consumers And added that the FOMC will do whatever it deems necessary to get the jobs and housing sector on track.... He also remained committed to retaining low interest rates

For the next two years.........

PRESIDENT OBAMA WILL SPEAK AT 6PM CDT..........

MY SWING NUMBERS 9/9

DECEMBER GOLD
RESISTANCE # 2............................$1900.00
RESISTANCE # 1............................$1878.00
PIVOT.......................................... $1847.00
SUPPORT # 1................................$1826.00
SUPPORT # 2................................$1795.00
VOLUME.........................................200,000

DECEMBER SILVER
RESISTANCE # 2.............................$43.64
RESISTANCE # 1.............................$43.08
PIVOT .............................................$42.18
SUPPORT # 1..................................$41.64
SUPPORT # 2..................................$40.72
VOLUME.............................. ..........31,000

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

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