Video: West Red Lake Gold works to restart Madsen mine
The company is optimistic about the potential of its Red Lake assets in the storied gold district of northern Ontario.
The Gold market remains in a technical channel In search of news that will lend momentum either to the upside or downside. We are certainly in the summer dull drums as global investors seek a price dip in hopes of re-entering the physical markets….
With the jewelers of India needing to re-stock their shelves for the upcoming Festival and Wedding seasons beginning in September and extending through December I believe they are hoping for a price pull back prior to purchasing their product.
Most Gold traders will recall the gold market last year at this time was very range bound and truly did not break out of the technical dull drums until after the Labor Day Holiday. We then witnessed a mammoth rally that extended until December 3rd ….
I am not suggesting that will happen again however, there is no news presently that has given any momentum to the precious metals in either direction thus far…..
We have been trading between $1175.00 and $1220 seemingly forever…..
This is a not unusual for the Gold market during the summer months…..
REPORTS: CONSUMER CONFIDENCE….9:00 am CST
My Swing Numbers…August Gold for 7/27
RESISTANCE # 2………………$1201.00
RESISTANCE # 1………………$1192.50
PIVOT……………………………. $1185.00
SUPPORT # 1………………….$1175.00
SUPPORT # 2………………….$1169.00
Mike Daly / GOLD Specialist
PFG BEST
877-294-4669
312-563-8029
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, AND FOREX*
