Gold Settles $1.00 Lower ... ($1734.40)

Today's April Gold Futures contract covered a subdued $24.00 range.

The trading session traded as high as $1742.80 early on but was unable to retain rally momentum as technical selling resistance forced traders to take profits. This week will produce

plenty of economic data including Friday's Unemployment Data. Since December's huge sell-off it has become apparent traders are less willing to marry positions and more inclined to take profits when available. The bullion demand from India should continue as we are in the early stages of their wedding season. There was a very interesting comment from Philadelphia Federal Reserve Bank President Charles Plosser today. He stated he projects first FED rate hike in 2012 and said the FOMC must stop thinking and start taking action to do more....

Economic data 1/31

Consumer confidence ..........9:00 am CST.

MY SWING NUMBERS 1/31

APRIL GOLD RESISITANCE # 2..........$1756.00 RESISTANCE # 1...........$1745.00 PIVOT..........................$1732.00 SUPPORT # 1...............$1721.00 SUPPORT # 2...............$1708.00 VOLUME......................119, 000

MARCH SILVER RESISTANCE # 2...........$34.61 RESISTANCE # 1...........$34.02 PIVOT..........................$33.53 SUPPORT # 1...............$33.05 SUPPORT # 2...............$32.55 VOLUME.....................32, 000

There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.