Gold Settles $35.00 Higher... ($1791.10)

Today's December Gold Futures contract covered a $38.00 range as global investors continue to choose the precious metals as their safe haven alternative investment. There is a sense of relief at least for now that Greece will remain a member of the European Union and the nation will form a new united Government which will force the present Financial Minister George Papandreou to resign. His successor is expected to be former vice President of the ECB and President of the Bank of Greece - Lucas Papademos.... Mr. Papademos will inherit a debt ridden nation in need of a financial overhaul.... Gold speculators are also concerned with the fragility in Italy and worry about a contagion chain reaction throughout the Euro Region..... As we Gold bugs are aware during times of economic stress investors globally choose Gold and Silver as they historically retain their value better than most commodities ..... Until investor confidence grows I expect these choppy and volatile ranges to continue! Trade Smart use stops...........

MY SWING NUMBERS 11/8
DECEMBER GOLD
RESISTANCE # 2..................$1819.00
RESISTANCE # 1..................$1804.00
PIVOT .................................$1779.00
SUPPORT # 1......................$1766.00
SUPPORT # 2......................$1741.00
VOLUME ............................88,000

DECEMBER SILVER
RESISTANCE # 2..................$35.63
RESISTANCE # 1..................$35.22
PIVOT .................................$34.54
SUPPORT # 1......................$34.13
SUPPORT # 2......................$33.45
VOLUME .............................30,000

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

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