GOLD SETTLES $61.40 HIGHER... ($1713.20)

Another unbelievable move in the Gold market ! Today's December Gold futures market traded as high (so far) as $1722.90 in the post day session market...Another All-Time record . The day/post session combined for a $41.20 range... The Standard and Poor's downgrade for the United States Credit rating from AAA - AA+ was the fuel that propelled this Rally to historic levels... The downgrade sent a message of Instability to the world's investors and a warning that even the world's largest economy is susceptible to a debt crisis...

On July 1st the December Gold contract closed at $1481.00. Since then we have rallied $241.90 in about 5 weeks.... The U.S legislators have no one to blame but themselves. During the final days before agreeing on a debt crisis "BILL" the Bi-partisan bickering and public antics only highlighted the the uncertainty and political divide that is in my opinion destructive to America as a whole....and preventing our return to greatness......We as a country need to focus on our unemployed and our housing sector in order to get our economy on the right path.....In other words having everybody pulling on the same side of the rope.....

As long as there is global uncertainty there will be savvier investors running to the Gold market as a "safe haven" alternative investment. Historically both Gold and Silver retain their value better than most commodities during times of economic uncertainty... THE MARKET IS ALWAYS RIGHT !!!!!

MY SWING NUMBERS 8/9

DECEMBER GOLD
RESISTANCE...# 2.................. .$1747.00
RESISTANCE # 1.................. $1730.00
PIVOT................................. $1706.00
SUPPORT # 1.........................$1689.00
SUPPORT # 2.........................$1665.00
VOLUME.................................234,000

SEPTEMBER SILVER
RESISITANCE # 2....................$41.44
RESISTANCE # 1.................. $40.4O
PIVOT.....................................$39.36
SUPPORT # 1.........................$38.33
SUPPORT # 2.........................$37.28
VOLUME.................................63,000

Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-563-8029

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