Subject: DALY GOLD REPORT 3/30

The Gold market continues to react to the direction of the U.S Dollar as traders begin to take profits in advance of the Good Friday /Easter Holiday as well as the Friday Unemployment Data. The Gold traded lower on sluggish volume as many traders begin to prepare for Holiday vacations. Also tomorrow is the end of the first quarter…

The U.S dollar gained some ground versus the Euro as the debt crisis in the European Union… continues to unfold for the remaining troubled states including Portugal, Ireland, Italy, and Spain.

News out of the Asian sector continues to support the Gold market as the World Gold Council (WGC) predicts China could run out of Gold in six years. China has been the world’s largest producer of Gold since 2007and with the overwhelming demand from its citizens is having trouble supplying their demand.

India’s appetite for Gold is always insatiable and with the upcoming April – May wedding season approaching and expectations of over one million weddings has the jewelers of India buying to service the demand. They have been very aggressive buyers especially on price dips…Bargain hunting!

Reports: 3/31

Factory Orders…………9:00 am (CST)

MY SWING NUMBERS 3/31….JUNE GOLD

RESISTANCE # 2……….$1119.00
RESISTANCE # 1……….$1112.00
PIVOT…………………….$1107.00
SUPPORT # 1…………...$1100.00
SUPPORT # 2…………...$1095.00

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