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 session traded a very quiet $8.70 range as investors seemed unfazed by the Banking news coming from the European Union this weekend.
News that the Governors and Heads of Supervision of the Basel Committee has set higher requirement for capital conservation… The guideline requests Banks set aside 7% of its capital to support them in times of crisis…
Bangko Sentral ng Philipinas (BSP) set tougher guidelines for Banks to help ensure a repeat of the 2008 financial crisis.
Despite the so-called good economic news from the Banking Industry it is apparent the investment community is not leaving the flight to safety precious metals markets as of yet. Investors are still choosing tangible “safe haven” investments….
In fact the Asian sector has continued to buy price dips primarily the jewelers of India as their Wedding and Festival is in full swing… I expect this trend to continue through “Diwali” festival 11/5…..
Reports: 9/14 Business Inventories……7:30 am (cst)
Retail Sales…………………7:30 am (cat)
My Swing Numbers….9/14….December
RESISTANCE # 2……………$1256.00
RESISTANCE # 1……………$1252.00
PIVOT ………………………$1247.00
SUPPORT # 1………………..$1243.00
SUPPORT # 2… …………….$1238.00
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 transaction.
