Gold Settles $15.40 Higher... ($1758.00)

Today's Gold day session covered a $28.00 range. Gold rallied mid to late session as a weaker U.S. Dollar, Higher Stock, and Crude Oil prices started a buying frenzy. Gold has kept its resiliency due to underlying demand for physical bullion. The Wedding & Festival season for India will begin in full swing in September. Since India is the globes largest consumer of Gold annually I expect the the Jewelers of India to purchase Gold and Silver in vast quantities to meet the almost insatiable demand of the season.

The WGC (World Gold Council) reported that the amount of Gold currently held by the public in Vietnam was estimated to be about 500 tons. There has also been an increase in demand for coins and bars world-wide. With the continued fragility in the European Union and a loss of confidence in the U.S. Dollar it is easy to see why global investors are choosing Gold as their "safe haven" currency of choice....

ECONOMIC DATA 5/16
HOUSING STARTS AND PERMITS..............7:30 AM CST.

MY SWING NUMBERS 8/16

DECEMBER GOLD
RESISTANCE # 2.........................$1777.00
RESISTANCE # 1.........................$1768.00
PIVOT....................................... .$1749.00
SUPPORT # 1.............................$1739.00
SUPPORT # 2.............................$1721.00
VOLUME......................................95,000

SEPTEMBER SILVER
RESISTANCE # 2..........................$40.17
RESISTANCE # 1..........................$39.72
PIVOT..........................................$39.21
SUPPORT # 1..............................$38.77
SUPPORT # 2..............................$38.25
VOLUME......................................19,000

Mike Daly / Gold Specialist

PFG BEST
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.