Today’s Gold rally was fueled by further U.S Dollar weakness versus the Euro. The optimism from the Greek Cabinet concerning more aggressive fiscal measures that will save $4.8 Billion Euro’s is required by the European Union prior to pledging financial aid.

The rally has also been extended through speculative interest due to the weakness in the Dollar as well as stronger equity markets and higher energy prices.

The Gold continues to breach resistance levels but more importantly the market is settling above key resistance levels ($1140.00).

It felt like many Gold traders were on the side-lines today in advance of tomorrow’s economic reports.

REPORTS: 3/4

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

My swing Numbers 3/ 4 April GOLD……..
RESISTANCE # 2……….$1153.00
RESISTANCE # 1……….$1147.00
PIVOT…………………….$1140.00
SUPPORT # 1…………...$1134.00
SUPPORT # 2…………...$1127.00

Mike Daly / Gold Specialist
P FG BEST