Precious Metals Market Comments

Today's June Gold futures traded a bullish $19.50 range as a weaker U.S Dollar, short covering, and some bargain price buying helped to fuel the rally in the precious metals today.

Once again the Initial Jobless Claims data was worse than projected. The U.S Department of Labor released 388,000 initial claims worse than the 375,000 that was predicted.

The precious metals also benefited from higher Crude Oil prices as the June Crude Oil futures traded as high as $104.92 a barrel today. Technically the Gold broke through some key resistance levels including the $1450.00 & $1460.00 levels while closing just $1660.00 for the session. Traders will be eyeing on tomorrow's economic data before choosing their Friday trading strategies. So far we have had range of $38.40 from low to high. Today we traded as high as $1662.00 which is also the weekly high so far...

May Silver futures covered a .66.5 cent range closing .85.1 cents higher ($31.20.7 per ounce).

ECONOMIC DATA 4/27

EMPLOMENT COST INDEX................7:30 AM.CST.

GDP................................................7:30 AM CST.

MY SWING NUMBERS 4/27

JUNE GOLD

RESISTANCE # 2............$1675.00

RESISTANCE # 1............$1667.00

PIVOT...........................$1655.00

SUPPORT # 1.................$1648.00

SUPPORT # 2.................$1635.00

VOLUME........................166,000

MAY SILVER

RESISTANCE # 2............$31.71

RESISTANCE # 1............$31.48

PIVOT...........................$31.04

SUPPORT # 1.................$30.83

SUPPORT # 2.................$30.37

VOLUME..................... 66,000

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.