Gold Settles $44.40 Lower... ($1618.10)

The December Gold Futures traded another wild, choppy, and volatile range covering $57.90. The Gold market tanked late session as investors continue to be concerned over the fragility in Greece. Reuters reported that inspectors from the European Union and International Monetary Fund headed to Greece to Scrutinize the new austerity measures they must endorse for Athens to get the next tranche of aid. Greece's parliament approved a unpopular property tax on Tuesday.....Until the Greece gets its next aid tranche investor confidence in the Euro Region will continue to pressure the precious metals market as it appears the situation in the Greece changes from minute to minute....

Well we'll see what tomorrow brings !

ECONOMIC DATA 9/29
EXPORT SALES......................7:30 AM. CST.
GDP.................................. ....7:30 AM. CST.
INITIAL JOBLESS CLAIMS......7:30 AM. CST.

MY SWING NUMBERS 9/29
RESISTANCE # 2.....................$1692.00
RESISTANCE # 1.....................$1654.00
PIVOT ...................................$1634.00
SUPPORT # 1.........................$1597.00
SUPPORT # 2.........................$1576.00
VOLUME..................................169,000

DECEMBER SILVER
RESISTANCE # 2....................$33.80
RESISTANCE # 1....................$32.00
PIVOT ..................................$31.00
SUPPORT # 1........................$29.12
SUPPORT # 2........................$28.12
VOLUME................................54,000

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

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