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.
Today’s session produced a $19.40 choppy range as traders decided that NO INTEREST RATE hike from the Peoples Bank of China was an indicator to buy Gold. China raised rates Friday on it’s banks “reserve requirements ratio” .50 basis points to help curb inflation. China is experiencing historic commodity prices…
Gold and Silver volatility subsided late in the session as traders may be looking toward tomorrows key economic data as well as the t5uesday meeting of the FOMC…The minutes from the Fed meeting are always worth keeping an eye on !!!!
Gold and Silver traders will certainly be deciphering tomorrows economic data as it will surely give the precious metals direction….
Tuesday 12/14 Economic Data:
FOMC MEETING………….
Business Inventories…………7:30 am (CST)
PPI………………………………7:30 am (CST)
RETAIL SALES………………7:30 am (CST)
FEBRUARY GOLD SWING NUMBERS 12/14
RESISTANCE # 2………………$1412.00
RESISTANCE # 1………………$1405.00
PIVOT…………………………….$1393.00
SUPPORT # 1…………………..$1386.00
SUPPORT # 2…………………..$1373.00
MARCH SILVER SWING NUMBERS 12/14
RESISTANCE # 2……………..$29.20
RESISTANCE # 1……………..$28.75
PIVOT……………………………$28.62
SUPPORT # 1………………….$27.50
SUPPORT # 2………………….$27.04
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-563-8029
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
