Gold Settles $7.60 Lower ... ($1791.60)

HIGH = $1801.10 LOW = $1778.80

Today's December Gold Futures contract traded a $22.30 range as traders continue to monitor the latest news from European Union. Gold was unable to hold the psychological $1800.00 level again today and the failure may have caused traders to take profits. After the day session close the Globex Gold market sold off creating new lows for the day.($1772.20) as of this post. The crisis in Italy is at the breaking point according to German Chancellor Angela Merkel. Merkel claims that The plight of Europe was so unpleasant that deep structural reforms were needed quickly. Adding the rest of the world would not wait and That will mean more Europe, not less Europe.... The ECB is actively buying bonds in Italy.... The probability of the ECB printing more EURO'S is growing.

ECONOMIC DATA 11/10

EXPORT SALES............................7:30 AM. CST.
INITIAL JOBLESS CLAIMS .........7:30 AM. CST.
U.S TRADE BALANCE ................7:30 AM. CST.

DECEMBER GOLD / 11/10
RESISTANCE # 2....................$1813.00
RESISTANCE # 1....................$1803.00
PIVOT ....................................$1791.00
SUPPORT # 1.........................$1780.00
SUPPORT # 2.........................$1769.00
VOLUME ................................134,000

DECEMBER SILVER
RESISTANCE # 2.....................$35.42
RESISTANCE # 1.....................$34.99
PIVOT .....................................$34.62
SUPPORT # 1..........................$34.00
SUPPORT # 2..........................$33.82
VOLUME ................................45,000

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

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.