Gold Settled $32.60 Higher ... ($1758.50)

Today's April Gold Futures session traded a vast $32.60 range as traders and investors used today's economic and geo-political news choose the precious metals as their currency of choice. Early on we learned that after several months of negotiations Greece was awarded their 130 billion Euro's it needed to avoid a March bankruptcy The bailout is seen as bullish for the Euro and therefore negative for the U.S Dollar. A weaker Dollar is bullish for Gold.

Gold was even further fueled as Crude Oil sky rocketed as tensions inside Iran continue to grow. Iran is feeling the effect of the sanctions imposed by the West for its continued enrichment of uranium in order to achieve nuclear capability. The Iranians are concerned there may be a military strike against its nuclear facilities and today Mohammad Hejazi the deputy head of the Islamic republic's armed forces stated We do not wait for enemies to take action against us and added We will use all our means to protect our interests. The sabre rattling has gone to the next level and has speculators concerned that any warring environment in the region would affect the supply and transportation of Crude Oil. Higher Crude oil prices are considered inflationary and therefore (normally) would be bullish for Gold. March Crude oil futures traded as high as $106.07 per barrel as of this post. ($2.70 plus higher).......

MY SWING NUMBERS 2/22

APRIL GOLD

RESISTANCE # 2............$1780.00

RESISTANCE # 1............$1769.00

PIVOT...........................$1748.00

SUPPORT # 1.................$1737.00

SUPPORT # 2.................$1710.00

VOLUME........................181,000

MARCH SILVER

RESISTANCE # 2............$35.21

RESISTANCE # 1............$34.81

PIVOT...........................$34.07

SUPPORT # 1.................$33.69

SUPPORT # 2.................$32.93

VOLUME.......................51,000

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.