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mdaly@PFGBEST.com

Tuesday, March 13, 2012 at 6:51 PM

Gold Settled $5.60 Lower ... ($1694.20)

Today's April Gold Futures traded a choppy yet technical $19.90 range.

Traders appeared to be probing the technical support and resistance levels as they await the results of today's FOMC meeting prior to making their trading strategies. The Gold market has been trading in a very tentative range as physical buying from the Asian sector continues to be the underlying support. Traders are still eyeing the geo-political tension between Iran and the West. Any signs of escalation in the region would lead to the rally momentum that gold bugs are looking for. In the meantime we continue to hear the same statements from the FOMC about the state of the U.S economy. SUCH AS : (the following below)

Fed says unemployment declined notably, but remains elevated

 Says oil, gasoline will push up inflation temporarily

 Strains in global markets have eased, but still pose risks

 Economy expanding moderately

 Household spending, business investment advance

 They see inflation at or below mandate-consistent levels

 Fed repeats exceptionally low rates at least through late 2014

 Will continue operation twist and MBS reinvestment

 Richmond Fed boss Lacker dissents, saying conditions don't warrant

 exceptionally low rates through 2014.

MY SWING NUMBERS 3/14

RESISTANCE # 2............. $1715.00

RESISTANCE # 1............. $1707.00

PIVOT............................ $1695.00

SUPPORT # 1................. .$1684.00

SUPPORT # 2.................. $1675.00

VOLUME.........................152, 000

MAY SILVER

RESISTANCE # 2..............$34.22

RESISTANCE # 1..............$33.90

PIVOT.............................$33.51

SUPPORT # 1.................. $33.19

SUPPORT # 2.................. $32.80

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.