The Gold markets momentum continues to be U.S Dollar orchestrated. The continued fragility of the Dollar is pushing investors into the Gold as a safe haven alternative. Year to date Gold is up over 30%. The economy of the United States grew 2.8% in the 3rd quarter (less than anticipated). This translates into less consumer spending and larger deficits. The biggest economic problem remains the number of unemployed Americans. (7.3 million since 12/07)...

Today's trade was very thin and felt like a Holiday week trade. The February Globex market covered a $13.90 range. I believe many traders have taken this Thanksgiving week off. In spite of High Gold prices the wedding season in India continues. The consumers are making concessions with their purchases. The traditional gifts of Gold ornaments are being made with less Gold. The country of India is the world's largest consumer of Gold. It is reported they consume approximately 20% of gold's global demand. Despite a drop in their jewelry consumption the world's investment consumption is extremely high and continues to drive the Bull engine.

Reports: 11/25

Jobless Claims.........7:30 am (CST)

Personal Income.......7:30 am (CST)

New Home Sales......7:30 am (CST)

My swing numbers for 11/25....FEBRUARY GOLD

RESISTANCE # 2..............$1180.00

RESISTANCE # 1..............$1173.00

PIVOT.............................$1166.00

SUPPORT # 1..................$1159.00

SUPPORT # 2..................$1152.00

Mike Daly /Gold Specialist