Precious Metals Market Comments

Today's June Gold futures traded a volatile and choppy $35.80 range as a Greek political stalemate raises tensions within the European Union. Unable to reach a reach an agreement on forming a new government Greece is on the verge of pushing the country closer to financial default. Unless an agreement can be met tomorrow there is a real possibility that Greece may become the first country to forsake the Euro. Greece is scheduled to run out of money next month and they have no set government in place to negotiate the next bailout payment.

The latest chaos in Greece has raised the tension in the Euro region to new heights and sending investors out of the weakened Euro and into the U.S Dollar and U.S Treasuries.

Economic data: 5/15

CPI............................ .7:30 am. cst.

Business Inventories........7:30 am. cst.

Real Earnings............... .7:30 am. cst.

Retail Sales....................7:30 am.cst.

RESISTANCE # 2..................$1602.00

RESISTANCE # 1..................$1582.00

PIVOT.................................$1566.00

SUPPORT # 1.......................$1545.00

SUPPORT # 2.......................$1530.00

VOLUME..............................151,000

JULY SILVER

RESISTANCE # 2..................$29.32

RESISTANCE # 1..................$28.83

PIVOT................................ $28.52

SUPPORT # 1.......................$28.04

SUPPORT # 2.......................$27.72

VOLUME............................. 35,000

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PFGBEST Research Division

mdaly@pfgbest.com

877-294-4669

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