Gold Settles $34.60 Lower ... ($1604.50)

Today's June Gold futures traded a choppy and volatile $44.00 range as investors and traders alike react to the latest European Union debt crisis. Today's day session traded a low of $1595.50 a level it has not seen since January 3rd 2012. Global investors are viewing the leadership change in both Greece and France has heightened the political and economic turmoil in the Euro Region. The Euro currency is under siege as the instability of the Greek government has placed a heavy financial burden on the entire European Union as well as forcing global investors to buy U.S Dollars and U.S Treasuries. President elect François Hollande of France is scheduled to take charge May 15th has been very outspoken in regards to the financial bailouts given to Greece and the devastating effect it has had on France as well as the rest of the European Union. The French elected the Socialist party candidate ousting Nicholas Sarkozy who along with German Chancellor Angela Merkel was instrumental in getting Greece their bailouts. Apparently the citizens of France are tired of shouldering the economic weight that has

threatened the economic climate of France. A weaker Euro is 'bullish' for the U.S Dollar.

A strong U.S Dollar is bearish for precious metals lower Crude oil prices also attributed to lower precious metals prices as the June Crude Oil futures traded as low as $95.52 per barrel during the day session.

ECONOMIC DATA 5/9

WHOLESALE TRADE.............7:30 AM. CST.

MY SWING NUMBERS 5/9

JUNE GOLD

RESISTANCE # 2..................$1657.00

RESISTANCE # 1..................$1630.00

PIVOT.................................$1613.00

SUPPORT # 1.......................$1587.00

SUPPORT # 2.......................$1569.00

VOLUME..............................91,000

JULY SILVER

RESISTANCE # 2..................$30.56

RESISTANCE # 1..................$30.00

PIVOT................................ $29.57

SUPPORT # 1.......................$29.02

SUPPORT # 2.......................$28.58

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

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PFGBEST Research Division

mdaly@pfgbest.com

877-294-4669

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