Precious Metals Market Comments

Today's June Gold futures traded a quiet $15.50 range on fairly light volume as traders may be awaiting news statements from the FOMC's two day meeting which will conclude tomorrow..

The last several times Fed Chairman Ben Bernanke has spoke he has single handedly crushed the precious metals and I believe his recent record is fresh in the minds of the gold bugs

Gold traders may be waiting until after the FOMC convenes prior to choosing their trading strategies

.

Today's price rally can be attributed to a weaker U.S. Dollar along with bad news from the housing sector. The S&P/ Case-Schiller home price index revealed that U.S Home prices dropped sharply in February to its lowest level in 10 years...

Today's May Silver futures contract settled 21.5 Higher ... ($30.74.6 per ounce)...

ECONOMIC DATA 4/25

Advanced Durable Goods................7:30 am. cst.

FOMC MEETING (part 2.)

MY SWING NUMBERS 4/25

JUNE GOLD

RESISTANCE # 2...........$1659.00

RESISTANCE # 1...........$1651.00

PIVOT......................... $1643.00

SUPPORT # 1...............$1636.00

SUPPORT # 2...............$1627.00

VOLUME......................125, 000

MAY SILVER

RESISTANCE # 2............$31.30

RESISTANCE # 1............$31.02

PIVOT...........................$30.83

SUPPORT # 1................ $30.56

SUPPORT # 2................ $30.36

VOLUME.......................63,000

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.