Gold Settles $2.60 Higher... ($1713.40)

Today's Gold trade covered a very quiet $14.10 range as traders may be waiting on Thursday's economic data as well as Friday's unemployment data prior to forming their trading strategies. Higher crude oil prices helped to support higher gold prices today as January Crude oil traded as high as $100.15 per barrel as of this posting. Higher prices are due in part to geo-political tensions in Iran.

According to FT Reports:
Several hundred Iranian protesters stormed the British embassy and residential compound in Tehran on Tuesday, in the most serious attack on diplomats in the city since the 1979 Islamic revolution. In incidents that underscored the deepening diplomatic tension between Iran and the west over Tehran's nuclear program Iranian students cried death to the UK and burnt the British flag. Euro zone Financial Ministers apparently have agreed to release the EU8 billion aid payment to Greece, according to a European official.....

MY SWING NUMBERS 11/30

December Gold
RESISTANCE # 2...............$1726.00
RESISTANCE # 1...............$1720.00
PIVOT ..............................$1712.00
SUPPORT # 1....................$1706.00
SUPPORT # 2....................$1698.00
VOLUME...........................176,000

December Silver
RESISTANCE # 2...............$32.51
RESISTANCE # 1...............$32.18
PIVOT ..............................$31.81
SUPPORT # 1....................$31.48
SUPPORT # 2.....................$31.10
VOLUME...........................41,000

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

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