Gold Settles $35.10 Higher ... ($1765.10)

Today's December Gold Futures traded a vast $44.30 range with a High of $1768.30 and a Low of $1724.00 as traders and investors world-wide watch as the Greek parliament readies to vote on their referendum. The news from Greece has been changing seemingly minute to minute. Early on their reports that Greece's Prime Minister George Papandreou had resigned. Then reports denied his resignation. According to FOX NEWS: Europe-World Website: Prime Minister George Papandreou ignored widespread calls for his resignation and instead invited the opposition to join negotiations on the bailout, telling an emergency Cabinet meeting that early elections would force Greece into leaving the 17-nation euro currency, with disastrous effects for both Greece and other European economies...

ALSO:
Papandreou sparked a global crisis Monday when he announced he would put the latest European deal to cut Greece's massive debts - an accord that took months of negotiations -- to a referendum. The idea horrified other EU nations and Greece's creditors, triggering turmoil in financial markets as investors fretted over the prospect of Greece being forced into a disorderly default All eyes will be on the vote !

Meanwhile investors and traders continued the flight to safer haven alternative investments primarily Gold and Silver. Just 6 short weeks ago the December Gold was traded as low as $1535.00...... Initial Jobless Claims was better than expected: The weekly report on Initial Jobless Claims is 397k This was projected to be 400k.

MY SWING NUMBERS 11/4

DECEMBER GOLD
RESISTANCE # 2....................$1796.00
RESISTANCE # 1....................$1780.00
PIVOT ...................................$1752.00
SUPPORT # 1.........................$1736.00
SUPPORT # 2.........................$1708.00
VOLUME.................................148,000

DECEMBER SILVER
RESISTANCE # 2.....................$35.85
RESISTANCE # 1.....................$35.17
PIVOT ....................................$34.22
SUPPORT # 1.........................$33.54
SUPPORT # 2.........................$32.60
VOLUME ................................35,000

Mike Daly / Gold Specialist
Research Division
PFGBEST.com
mdaly@pfgbest.com
312.563.8029
877.294.4669
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