Gold Settles $4.30 Lower... ($1222.60)

Today's Globex Gold market traded in a very technical $13.90 range as the market continued to have a Holiday week feel. I believe the Jobless claims data (tomorrow) may also have some traders side-lined.

The physical demand continues to be off the charts as the U.S Mint has reported record breaking sales last month... The European Union , The Geo-political tensions, and the overall loss of investor confidence in the fiat currencies continues to drive global investors into safer havens...(GOLD, Silver, and Diamonds....) China has become the world's second leading consumer in diamonds only trailing the United States....

General Motors : TOTAL sales were up 16.6% versus one year ago........

REPORTS : 6/3

Initial Jobless Claims........7:30 am (cst) Productivity.......................7:30 am (cst)

SWING NUMBERS...6/3 AUGUST GOLD....

RESISTANCE #2.............$1236.00 RESISTANCE # 1............$1229.00 Pivot...............................$1222.00 SUPPORT # 1................$1215.00 SUPPORT # 2................$1208.00

Mike Daly / Gold Specialist PFG BEST mdaly@pfgbest.con 877-294-4669 312-563-8029 312-775-3014