Today's Gold Settled $41.30 Higher... ($1784.30)

Today's day session covered a $60.80 range and notched another All-time high trading $1801.00 as global investors continue to monitor the instability in both the United States as well as the continued fragility in European Union. It is certainly crystal clear that the investment community Is choosing Gold as their "safe haven" alternative investment. On Friday August 8th we settled December Gold at $1651.80.... Today (Wednesday 8/10) we traded as high as $1801.00 or $149.20 higher from settlement to high.....In just 3 trading sessions.....!!! Unfortunately it appears nobody is offering a solution... There seems to be a huge lack of confidence in our legislators !!! Yesterday the FOMC stated they would not raise rates for the next two years....Could this mean QE 3 ?

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Silver made a nice run to the upside today settling $144.4 and closing at $39.32.7....................

Economic Data 8/11
EXPORT SALES.......................7:30 AM CST.
INITIAL JOBLESS CLAIMS......7:30 AM CST
U.S TRADE BALANCE............7:30 AM CST

MY SWING NUMBERS 8/11

DECEMBER GOLD
RESISTANCE # 2....................$1836.00
RESISTANCE # 1....................$1810.00
PIVOT....................................$1775.00
SUPPORT # 1........................$1749.00
SUPPORT # 2........................$1714.00
VOLUME................................251,000

SEPTEMBER SILVER
RESISTANCE # 2..................$40.52
RESISTANCE # 1..................$39.93
PIVOT..................................$38.77
SUPPORT # 1.....................$38.17
SUPPORT # 2.....................$37.02

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