Gold Settled .70 Cents Lower ... ($1684.90)

Today's April Gold Futures traded a very choppy yet technical $17.40 range consisting of high of $1696.90 and a low of $1679.50. it appeared that traders were very tentative after the market could not hold momentum and take out the $1697.00 resistance level and may have taken some profits after yesterday's $23 plus rally. The Indian government's increasing tax raises on gold imports has uproar from India's jewelers and traders. Recently the Indian government's budget doubled the customs duty on gold imports. However, India has a free trade agreement with Thailand and creating a loophole for gold importers enabling the jewelers of India the right to import gold jewelry from Thailand (and melt and resell) at a much cheaper rate.

A stronger U.S Dollar versus the Euro was also pressuring gold to the downside.

Traders may also be eyeing ABC NEWS tonight as they are scheduled to interview FOMC Chairman Ben Bernanke. As we gold bugs have discovered Mr. Bernanke moves the gold

market (in both directions).....So maybe traders are just being cautious.....

Silver traded a 57.5 Cent range and the May Future settled at $32.61.6 per ounce....

ECONOMIC DATA: 3/28

DURABLE GOODS..........7:30 AM. CST.

MY SWING NUMBERS 3/28

APRIL GOLD

RESISTANCE # 2............. $1704.00

RESISTANCE # 1............. $1695.00

PIVOT............................ $1687.00

SUPPORT # 1...................$1677.00

SUPPORT # 2..................$1670.00

VOLUME..........................153,000

MAY SILVER

RESISTANCE # 2...............$33.38

RESISTANCE # 1...............$33.01

PIVOT..............................$32.81

SUPPORT # 1................... $32.43

SUPPORT # 2....................$32.24

VOLUME........................ 28,000

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.