Today’s Comex day session continued the choppy and volatile trend as early U.S Dollar strength sent the Gold market to the $1132.50 level. However the continued resiliency of the gold market due to high world demand as an alternative to the weak Dollar. Jewelry consumption is down due the all-time high price of the yellow metal but speculative and hedge fund investors are fueling this insatiable appetite for Gold as a “safe haven” or “hard asset” alternative. Jobless claims remained unchanged from last week...

The following are my swing numbers for 11/20
(DECEMBER GOLD)

RESISTANCE # 2………………$1150.00
RESISTANCE #1……………….$1146.00
PIVOT ……………………………$1139.00
SUPPORT #1……………………$1135.00
SUPPORT #2……………………$1128.00

Mike Daly / Gold Specialist