Gold Settles $28.00 Lower ... ($1550.40)

Today's August Gold traded a very choppy and volatile $32.00 range. It certainly apparent that investors and traders are not very optimistic that the European Union summit will result in any major changes concerning the debt crisis in the region. The continued indecisive action in the region has placed heavy pressure on the Euro currency and forcing global investors into the U.S Dollar and U.S treasuries as their safe haven alternative investments...

Reports that troops from Turkey are mounting on the Syrian - Turkish border after a Turkish plane was shot down earlier in the week Syria has made no apologies... This could escalate

at a moment's notice...

The U.S Department of Labor reported Initial Jobless Claims as 386,000....It was expected to be 385,000.....

July Silver covered a .99.5 cent range and settled at $26.24.7 per ounce for the session....

.

MY SWING NUMBERS 6/29

August Gold

RESISTANCE # 2............. $1591.00

RESISTANCE # 1............. $1570.00

PIVOT........................... .$1559.00

SUPPORT # 1...................$1538.00

SUPPORT # 2...................$1527.00

VOLUME.........................116,000

July Silver

RESISTANCE # 2...............$27.44

RESISTANCE # 1...............$26.81

PIVOT............................. $26.44

SUPPORT # 1...................$25.82

SUPPORT # 2...................$25.44

VOLUME........................ .52,000

 

PFGBEST Research Division

mdaly@pfgbest.com

877-294-4669

312-775-3014

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