February Gold Closes $12.80 Higher… (1213.00)

By IBTimes Staff Reporter | December 02 2009 3:30 PM

Today’s Gold rally was fueled by speculator and fund buying as investors are banking on higher prices. The Globex (electronic market) covered a $21.90 trading range with another all-time high ($1218.40). Despite a stronger U.S Dollar and weaker Crude oil prices today the The Comex Gold market finished up $12.80 for the session. There appeared to be some profit taking mid session as Gold Bugs await some key economic data set to be released Thursday morning. The surge of buying appears to be investors adding to their “long” positions possibly in anticipation of the next wave of Dollar weakness.

Sponsorship Link

REPORTS: 12/03

EXPORT SALES……………7:30 am (CST) JOBLESS CLAIMS…………7:30 am (CST)

SWING NUMBERS 12/03 FEBRUARY GOLD….

RESISTANCE # 2………………$1231.00 RESISTANCE # 1………………$1222.00 PIVOT……………………………$1209.00 SUPPORT # 1…………………..$1200.00 SUPPORT # 2…………………..$1187.00