Gold Settles $16.80 Higher... ($1830.10)

Today's December Gold Futures covered a $44.10 range as traders and investors alike traded technically between the support and resistance levels waiting on economic data in order to for their positioning strategies. The President announced he would be sending the America's Job act BILL to congress yesterday and there are some key economic data scheduled to be released tomorrow morning. The see-saw ranges result of speculation and uncertainty amongst traders. I also believe the physical demand is higher after yesterday's mammoth sell-off. Savvier investors as well as India's jewelers have been active lately buying price dips in the overnight market.

ECONOMIC DATA 8/14
BUSINESS INVENTORIES...........7:30 am cst.
PPI.............................................7:30 am cst.
RETAIL SALES............................7:30 am cst.

MY SWING NUMBERS
DECEMBER GOLD 9/13/11
RESISTANCE # 2..............$1865.00
RESISTANCE # 1..............$1847.00
PIVOT ............................ $1821.00
SUPPORT # 1..................$1804.00
SUPPORT # 2..................$1777.00
VOLUME..........................155,000

DECEMBER SILVER
RESISTANCE # 2...............$42.02
RESISTANCE # 1...............$41.63
PIVOT...............................$40.86
SUPPORT # 1.................. $40.43
SUPPORT # 2...................$39.70
VOLUME...........................33,000

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I WILL BE DOING ANOTHER GOLD WEBINAR THURSDAY
SEPTEMBER 15TH AT 2PM CST.

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http://www.pfgbest.com/webinar/Meeting_detail.asp?SCOID=1087802705&FOLDERID=993197377&MEETING_NAME=Gold's%20No%20Good!!

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