Gold Settles $13.60 Higher Today... ($1054.00) The Gold market traded a very choppy $8.60 range today. The Globex session covered an equally choppy $21.20 range. The Gold began its rally off the weakness of the U.S Dollar early (overnight) and later fueled by the news of lender CIT group had filed for chapter 11 protection. This chapter 11 filing is considered one of the largest in U.S history. CIT supplies much needed loans for small to Mid-sized businesses. This certainly is not good news considering the Holidays are quickly approaching.

The U.S Dollar made an impressive late session rally and forced the Gold to fall from its $1062.40 High. I also believe Gold Bugs may have taken some early profits prior to the FOMC meetings. The (Dubai) retail Gold sector is reporting increased tourism boosting the demand for Gold...

REPORTS:

FOMC (TUESDAY / WEDNESDAY)

The following are my swing numbers for 11/03

                  (DECEMBER GOLD)

RESISTANCE # 2................$1065.00

RESISTANCE # 1................$1058.00

PIVOT             ....................$1056.00

SUPPORT # 1.....................$1050.00

SUPPORT # 2.....................$1047.00

Mike Daly / Gold Specialist

PFG BEST

mdaly@pfgbest.com