Today’s Gold session covered a fairly quiet $9.90 range as traders were sidelined awaiting tomorrows Unemployment Data… Today’s Initial Jobless Claims dropped by 6,000 – 472,000. Legislators and Investors alike will be monitoring tomorrows data due out at 7:30 am (CST).

The trend continued as the Asian sector once again were active buyers (in the night session)after a price dip in the day session…(Festival & Wedding season buying)…

The European Union’s Central Bank Jean-Claude Trichet defended the continuation of low and unchanged rates and stated the European Central Bank will extend unlimited loan offerings into 2011…..

FOMC Chairman Ben Bernanke admitted the FED was slow to identify and address subprime abuses…and continued to say that Regulators should have done a better job before the crisis……These are the reasons that investors lack confidence in the fiat currencies and continue to use Gold & Silver as “SAFE HAVEN” alternative investments…………

REPORTS: FRIDAY 9/3

**UNEMPLOYMENT**……7:30 am (CST)

MY SWING NUMBERS 9/3 (DECEMBER GOLD)
RESISTANCE # 2………………$1261.00
RESISTANCE # 1………………$1257.00
PIVOT ……………………………$1251.00
SUPPORT # 1………………….$1247.00
SUPPORT # 2………………….$1241.00

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

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