Gold Settles $46.20 Lower... ($1813.30)

Today's December Gold Futures contract traded a very choppy, volatile, and vast $54.10 range. The continued fragility in the European Union especially Greece has traders looking to fade the Euro and therefore lending strength to the U.S Dollar. The investor community primarily traders are viewing the technically overbought status of the Gold and are taking short term short positions (day trade scalping) that have resulted in setting off STOP-LOSS orders that are helping to fuel the mammoth sell-off....I expect many Gold Bugs to view this recent price dip as bargain buying opportunity....

Buying the price dips has been the trend for the past 4 years !!!

December silver settled at $40.21.7
DOWN $1.50 FOR THE SESSION.......

MY SWING NUMBERS 9/13
DECEMBER GOLD
RESISTANCE # 2..................$1884.00
RESISTANCE # 1..................$1849.00
PIVOT..................................$1830.00
SUPPORT # 1......................$1795.00
SUPPORT # 2......................$1776.00
VOLUME..............................191,000

DECEMBER SILVER
RESISTANCE # 2..................$42.14
RESISTANCE # 1..................$41.18
PIVOT..................................$40.64
SUPPORT # 1......................$39.68
SUPPORT # 2......................$39.14
VOLUME..............................$37,000

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

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