Gold Settles $26.60 Higher ... ($1726.70)

Today's February Gold Futures traded a choppy $28.50 range as yesterday's huge rally momentum continued today. The market was fueled by overnight buying as yesterday's FOMC

Meeting revealed that there would be no rate hikes until the end of 2014 as well as a very strong hint of more easing to help jump start the sluggish U.S economy. The FOMC acknowledged that the High Unemployment and depressed housing sector were the biggest drag on the U.S economy. If the FOMC chooses to inject more U.S Dollars into the economy it would be seen as a negative for the Dollar (any time you print more of anything...It becomes worth-less) and a weaker Dollar would be bullish precious metals....there is still concerns with the European Union and that could trump all....Today's Initial jobless Claims was reported to be 377.000 and worse than the 370,000 that was projected.....

MY SWING NUMBERS 1/27

February Gold RESISTANCE # 2.......... $1749.00 RESISTANCE # 1.......... $1737.00 PIVOT........................$1720.00 SUPPORT # 1................$1709.00 SUPPORT # 2................$1691.00 VOLUME.....................240,000

March Silver RESISTANCE # 2..........$34.32 RESISTANCE # 1..........$34.02 PIVOT.........................$33.50 SUPPORT # 1...............$33.21 SUPPORT # 2...............$32.68 VOLUME ....................52,000

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