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 gold market rebounded from a two session slump as investors were encouraged with new developments from the European Union. There are indications that Greece is ready to agree to accept the bail-out package from the European Union and the (IMF) International Monetary Fund. The whole acceptance of this package hinges on the decision concerning the interest rate. If Greece agrees to final terms it could bolster confidence in the region and will ease pressure on the Euro and probably renew buying interest in the precious metals.
Investors are still trying to decipher the SEC charges of fraud against industry giant Goldman Sachs. Apparently the Securities Exchange Commission was hesitant to pursue these charges as the Commission voted 3 -2 to pursue the matter(NOT UNANIMOUS) .
India’s jewelers have been less active as prices have rebounded. However they were very aggressive last Friday and continue to seek “bargain price dips” in preparation for the wedding and festival seasons. One of the largest jewelry agencies in Turkey (Atasay) announced “it expects jewelry exports from Turkey to RISE 20% this year. Also the Central bank of India once again raised key interest rates ¼ of a point while also raising cash reserves to lenders from 5.75% to 6.00%. This is due to their strong economic growth and rising inflation…estimated at 15%….
Swing numbers for Wednesday 4/21….June gold
Resistance # 2…………..$1153.00
Resistance # 1…………..$1146.00
Pivot………………………….$1140.00
Support # 1……………….$1133.00
Support # 2……………….$1127.00
Mike Daly / Gold Specialist
PFGH BEST
877-294-4669
312-563-8029
312-775-3014
*THEREB IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
