Today's Gold Session Closed $2.20 Lower... ($1056.40) Yet another very choppy and volatile trading session today as the (COMEX) Gold market provided a $14.00 tension filled range. The U.S Dollar was stronger versus the Euro late and Crude oil sold off preventing the Gold market to hold on to its early gains. Basically it was a Friday markets scenario resulting in some vast swings and late afternoon profit taking. Much of the positive Dollar news was due to Housing Data that statedU.S existing home sales rose to a 2 year high. India's consumers bought 56 (tons) of Gold for the Dhanteras and Diwali festivals last week according to the WGC (World Gold Council). Evidently the Gold consumers of India share a strong belief in safe haven investments. The world's largest consumer of Gold (INDIA) spent approximately (USD) $2 Billion Dollars buying Gold last week.

The following are my swing numbers for 10/26...

(DECEMBER GOLD)

RESISTANCE # 2...............$1076.00
RESISTANCE # 1...............$1065.00
PIVOT .........................$1058.00
SUPPORT # 1....................$1047.00
SUPPORT # 2...................$1040.00

Mike Daly /Gold Specialist