Gold Settles $8.80 Higher... ($1793.80)

Today's day session in December futures covered a fairly mild $16.00 range as I believe traders may be waiting on tomorrows (Thursday) economic data before putting together their trading strategies. The market made another late rally that is continuing into the extended session as I post. The Gold is still very top heavy as we continue to trade at these Uncharted levels. The underlying continues to be a vast demand to own physical bullion. As we get closer to September and the start of India's Wedding and Festival season I expect more buying from the Jewelers of India in order to meet the insatiable demand. Silver finished the day session up 53 cents and settling at $40.37.8...

ECONOMIC DATA 8/18
CPI.........................................7:30 AM CST.
EXPORT SALES......................7:30 AM CST.
INITIAL JOBLESS CLAIMS.....7:30 AM CST.
REAL RARNINGS...................7:30 AM CST.
EXIISTING HOME SALES...... 9:00 AM CST.

MY SWING NUMBERS 8/18
DECEMBER GOLD
RESISTANCE # 2.........................$1807.00
RESISTANCE # 1.........................$1800.00
PIVOT.........................................$1791.00
SUPPORT # 1.............................$1784.00
SUPPORT # 2.............................$1775.00
VOLUME......................................115,000

DECEMBER SILVER
RESISTANCE # 2.........................$41.09
RESISTANCE # 1.........................$40.73
PIVOT.........................................$40.29
SUPPORT # 1..............................$39.94
SUPPORT # 2..............................$39.51
VOLUME.................................... 14,000

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

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