Gold Settles 10 Cents Higher Today… ($1108.20)

Today’s Gold market traded between pivot and support levels closing 10 cents higher with the help of a weaker U.S Dollar. The U.S Department of labor announced first time jobless applications dropped 6,000 to 462,000.

Gold prices traded lower most of the trading session off speculation China was considering raising Interest rates again.

The true price support has come from India as Jewelers have been purchasing Bullion on the price dips.

Look for a weekly report later today…

Reports 3/12

Business inventories………7:30 am (CST)
Retail sales…………………7:30 am (CST)

My Swing Numbers…
RESISTANCE # 2……….$1125.00
RESISTANCE # 1……….$1116.00
PIVOT…………………….$1108.00
SUPPORT # 1…………...$1099.00
SUPPORT # 2…………...$1091.00

Mike Daly / Gold Specialist
PFG BEST
mdaly@pfgbest.com
877-294-4669
312-775-3014
312-563-8029