Gold Settles $1.10 Lower ... ($1627.00)

Today's August Gold futures trading session covered a choppy and volatile $24.40 range.

Greece avoided exiting the Euro currency zone as the Greek citizens elected political parties who favored an international bailout deal however, the region's debt crisis remains prevalent.

Apparently the newly elected Greek government is seeking to renegotiate Greece's current austerity measures but, Germany's Chancellor Angela Merkel has again ruled out any negotiating and insisting that the present set of agreements made with International lenders must be honored. Today's Gold trade had a seesaw range trading as high as $1631.30 and as low as $1606.90. it is my belief that traders are remaining tentative as they wait to hear news from the FOMC's Tuesday - Wednesday meeting this week.......Stimulus ? or No Stimulus ?

ECONOMIC DATA: 6/19

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

FOMC MEETING DAY #1..................................

MY SWING NUMBERS 6/18

August Gold

RESISTANCE # 2............. $1646.00

RESISTANCE # 1............. $1637.00

PIVOT........................... .$1622.00

SUPPORT # 1...................$1612.00

SUPPORT # 2...................$1598.00

VOLUME.........................130,000

July Silver

RESISTANCE # 2.................$29.42

RESISTANCE.#1................. $29.04

PIVOT................................$28.64

SUPPORT # 1..................... $28.27

SUPPORT # 2......................$27.86

VOLUME............................30,000

PFGBEST Research Division

mdaly@pfgbest.com

877-294-4669

312-775-3014

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