Gold Closes $2.20 Lower … ($1248.10)

Gold traders are also concerned about the possibility of a strike by the National Union of Mineworkers in South Africa. South Africa is the number two Gold producers second only to China….

Traders are looking at a possible supply and demand issue….  Once again the Gold and U.S Dollar are coupled as the inconsistency of the Euro is fueling Gold / U.S Dollar strength. Gold ended the month of August higher by 5.6%….

During a Television interview Philadelphia Central Bank boss Charles Plosser stated the Fed can do more to affect the jobless rate this year….

PREVIOUSLY….every price dip was met with a surge of Asian buying……..

*please feel free to contact me with your questions and comments……..

REPORTS: 9/2

EXPORT SALES…………………….7:30 AM  (CST)

INITIAL JOBLESS CLAIMS…. ….7:30 AM  (CST)

PRODUCTIVITY ……………………7:30 AM  (CST)

FACTORY ORDERS ……………….9:00 AM  (CST)

MY SWING NUMBERS 9/2

RESISTANCE # 2……………………$1262.00

RESISTANCE # 1……………………$1256.00

PIVOT  ………………………………..$1250.00

SUPPORT # 1……………………….$1242.00

SUPPORT # 2……………………….$1238.00

Mike Daly / Gold Specialist

PFG BEST

[email protected]

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.