Subject: Daly Gold Blog 3/10

Gold Settled $14.20 Lower Today… ($1108.10)

Today’s Gold trade between the support and resistance levels in a very choppy and volatile $25.20 range. The terms concerning the Greek credit crisis are are weighing on the gold as investors are concerned
with the pace of global recovery.

The Peoples Bank of China is hinting they considering raising rates again to help slow its economy which is
bearish for Gold. However the jewelers of India have shown an insatiable appetite for Gold and have been purchasing bullion after price dips. They have been “bargain hunting” buyers.

Gold has been unable to retain gains as the Euro has been under pressure basically for 3 months
therefore fueling the U.S dollars strength.

I also believe traders are waiting for the Thursday 3/11 economic numbers….

Reports: 3/11
EXPORT SALES……………..7:30 AM (CST)
INITIAL JOBLESS CLAIMS…7:30 AM (CST)
U.S TRADE BALANCE……...7:30 AM (CST)

SWING NUMBERS….3/11 APRIL GOLD
RESISTANCE # 2………..$1138.00
RESISTANCE # 1………..$1123.00
PIVOT……………………..$1113.00
SUPPORT # 1……………$1098.00
SUPPORT # 2……………$1088.00

Mike Daly / Gold Specialist
PFG BEST