Gold Settles $6.00 Higher... ($1740.40)

Today's April Gold Futures market traded a very choppy $23.60 range.

Despite a relatively light news day the trading session yielded a wide and volatile range as the market went from trading $1747.70 early in the session (around 8:05 am cst... $16 higher from the opening) before trading as low as $1727.00 less than 3 hours later. The market made a late session rally to close $6.00....It is my opinion that traders are less than eager to hold long positions prior to Thursday and Friday's economic data. Most traders are trying to decipher Friday's Unemployment Data. Since most of the holiday seasonal jobs are winding down this should be a more accurate account of the JOBS sector. The jewelers of India remain active buyers of physical bullion to meet the insatiable demand for precious metals s the wedding season is in full swing and extends through March.

ECONOMIC DATA 2/1 CONSTRUCTION SPENDING................9:00 am. CST.

MY SWING NUMBERS 2/1

APRIL GOLD RESISTANCE # 2....................$1763.00 RESISTANCE # 1....................$1751.00 PIVOT...................................$1739.00 SUPPORT # 1........................$1727.00 SUPPORT # 2........................$1715.00 VOLUME...............................133,000

MARCH GOLD RESISTANCE # 2....................$34.64 RESISTANCE # 1....................$33.95 PIVOT...................................$33.44 SUPPORT # 1........................$32.75 SUPPORT # 2........................$31.55 VOLUME...............................30,000

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