Gold Settled $10.50 Lower ... ($1649.70)

Today's June Gold Futures traded a very choppy and technical $17.60 range.

Gold prices dipped as investors and traders concerns intensified over Spain's ability to keep its finances under control. Investors will be eyeing this week's bond auction as worries about Spain have German bond yields at record highs. The uncertainty in Spain is certainly pressuring the euro as well as gold prices.

Cleveland's Fed Boss Sandra Pianalto said a government report showing employers added 120,000 workers in March, the fewest in five months, underscores the choppy nature of the United States expansion. Recent labor market data provide an example of the uneven pattern of economic activity. Pianalto added It seems as though the labor market is still improving, albeit at a modest pace.

ECONOMIC DATA:

Housing Starts & Permits...............7:30 am. CST.

MY SWING NUMBERS 4/17

JUNE GOLD

RESISTANCE # 2............. $1669.00

RESISTANCE # 1............. $1660.00

PIVOT........................... $1651.00

SUPPORT # 1.................. $1641.00

SUPPORT #2............... . $1633.00

VOLUME........................127,000

MAY GOLD

RESISTANCE # 2............$31.95

RESISTANCE # 1............$31.66

PIVOT...........................$31.42

SUPPORT # 1.................$31.14

SUPPORT # 2.................$30.90

VOLUME.......................47,000

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