Despite continued fall-out from the Dubai “debt freeze” debacle
the gold market staged a strong rally late session to close $6.90
higher for the session. The Higher prices for Crude oil also
contributed to the late session rally. The recent dips in the Gold
market has been a great opportunity to bargain hunt.
I bought some more bull / call spreads today.
Today’s Comex day session covered a $14.20 range
while Globex covered $20.00 range. I believe the recent sell-offs
have brought in some fresh investment dollars and may
inject a bit of momentum into the market.

Reports 12/01:

Construction Spending …….9:00 am (CST)
Existing Home Sales……….9:00 am (CST)

The following are my Swing numbers for 12/01
(February Gold)

RESISTANCE # 2……. ….$1197.00
RESISTANCE # 1………...$1189.00
PIVOT……………………...$1177.00
SUPPORT # 1…………….$1169.00
SUPPORT # 2…………….$1157.00

Mike Daly / Gold Specialist
PFG BEST