Gold Settles $9.70 LOWER ... ($1778.40)

Today's December Gold Futures traded a very technical and choppy $23.40 range. The Gold market threatened the $1800.00 level during the overnight session trading as high as $1797.60 before selling off. The stronger U.S Dollar pressured the Gold as investors viewed German Chancellor Angela Merkel's comment Europe could be living through its toughest hour since World War 2as as a reality check after initial optimism concerning the change in governments in both Greece and Italy.

The Dollar rose against the Euro after the sale of 5 year Italian Government Bonds came at the highest price in 14 years....Today's trading volume was extremely light as investors remain very tentative and are seeking economic and geo-political data in order to choose their trading strategies.... The whippy and volatile ranges have side-lined smaller and less aggressive traders. I expect the precious metals to remain volatile as the world awaits to see the post Papandreou and Berlusconi regimes ......

ECONOMIC DATA 11/15
PPI ..........................7:30 am. cst.
Retail Sales ............7:30 am. cst.
MY SWING NUMBERS 11/15

DECEMBER GOLD
RESISTANCE # 2................$1806.00
RESISTANCE # 1................$1792.00
PIVOT ................................$1783.00
SUPPORT # 1.....................$1769.00
SUPPORT # 2.....................$1760.00
VOLUME ............................75,000

DECEMBER SILVER
RESISTANCE # 2.................$35.27
RESISTANCE # 1.................$34.65
PIVOT .................................$34.30
SUPPORT # 1......................$33.67
SUPPORT # 2......................$33.33
VOLUME .............................30,000

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

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