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 trading session was a bit apprehensive as traders attempted to sort out the day’s news from the European Union. We learned that the European finance ministers approved an 85 billion Euro loan package to help Ireland with its debt crisis.
Gold traded a $15.50 range and overcame early loses (off the concerns from the Euro region) as traders and investors supported the yellow metal around the $1355.00 level. it is my opinion that savvier investors from the Euro region are using the weaker Euro to purchase gold futures as well as physical bullion to protect their wealth. In other words a flight to “safer havens” and tangible assets.
Many investors still believe the Chinese will raise interest rates as their cost of in country commodities remain at historic high’s… This along with the unemployment data due out Friday and the continued tension between North and South Korea have Gold traders apprehensive.. Gold bugs all remember last Decembers unemployment data…
Silver followed gold today and settled $1.05.5 HIGHER…. Closing at…..$27.19.3
I will be on an education tour til Friday….
MY SWING NUMBERS 11/ 30….FEBRUARY GOLD
RESISTANCE # 2……………..$1380.00
RESISTANCE # 1……………..$1373.00
PIVOT……………………………..$1364.00
SUPPORT # 1………………….$1358.00
SUPPORT # 2………………….$1349.00
MY SWING NUMBERS 11/30 …MARCH SILVER
RESISTANCE # 2…………….$27.98
RESISTANCE # 1…………….$27.58
PIVOT ………………………….$26.92
SUPPORT # 1…………………$26.53
SUPPORT # 2…………………$25.86
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 transactio
