Today’s Gold session covered a very subdued $9.90 range as traders may be apprehensive about this week’s economic data. Today’s trade waffled above and below unchanged in a very technical and light volume session (60,000)…
Silver covered a 65.5 cent range and settled 18.8 cents higher while trading 31,000 contracts.
It is my opinion that investors and traders alike are taking a guarded posture in preparation for the release of the FOMC minutes from the December 14th meeting as well as this week’s unemployment data. (Initial Jobless Claims & Unemployment released Thursday and Friday respectfully)….
ALSO….FOMC Chairman Ben Bernanke will testify before the Senate Budget Panel on Friday……………..
ECONOMIC DATA 1/4 :
FOMC MINUTES ………..1:00….CST…
MY SWING NUMBERS 1/4 FEBRUARY GOLD
RESISTANCE # 2………….$1430.00
RESISTANCE # 1………….$1425.00
PIVOT ………………….$1420.00
SUPPORT # 1………………$1416.00
SUPPORT # 2………………$1410.00
MARCH SILVER
RESISTANCE # 2………….$31.65
RESISTANCE # 1………….$31.38
PIVOT………………………..$31.00
SUPPORT # 1………………$30.74
SUPPORT # 2………………$30.35
Mike Daly / Gold Specialist
PFG BEST
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