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.
Although the Globex Gold market covered a $19.00 range today as it continued to have a holiday feel to it. Investors globally apparently continue to choose Gold as their investment of choice as the Geo-political and continued European debt crisis make the fiat currencies less appealing. The Euro region continues to be the fuel that is driving investors into safer havens however geo-political developments are also helping the precious metals retain its rally.
The tension between North Korea and South Korea continues to mount as there appears to be growing evidence that North Korea did indeed sink a South Korean Navy vessel earlier in the year. The North Koreans may face additional sanctions…This situation could easily escalate.
It was reported that Iran and Kurdish troops are clashing along the border…it had been reported that Iranian troops traveled 5 kilo meters inside the Iraqi border…
Later…the the Iraqi Kurdish government admitted there was “activity” on the border but denied that Iranians traveled within the Iraqi border………
Geo -political tension usually send investors into safer havens …as war environment is normally gold friendly…. Especially in OIL producing regions…….
SWING NUMBERS FOR AUGUST GOLD 6/2….
Resistance # 2…………$1242.00
Resistance # 1………..$1234.00
PIVOT……………………..$1223.00
Support # 1…………….$1216.00
Support # 2…………….$1204.00
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-775-3014
312-563-8029
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
