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.
The price of Gold rebounded today as the Globex February contract covered a very choppy and volatile $19.20 range. The recent sell-off has once again produced strong buying interest for both physical Gold and Silver. The physical demand is world-wide as savvier investors are using the precious metals as a safe haven investment as global inflation is on the rise. Today’s weaker U.S Dollar helped to extend higher Gold and Silver prices… The recent hike in energy prices is also fueling the global inflation worries.. I still expect some rate hikes from Central Banks globally especially China and possibly India just to name a few as these countries are experiencing historically high inflation….However, global inflation should benefit both Gold and Silver as traditionally these precious have retained their value better than most other commodities during times of crisis……
GOLD (FEBRUARY) VOLUME……150,000
SILVER (MARCH) . .VOLUME…… 55,000
REPORTS: 1/19
HOUSING STARTS AND PERMITS ………7:30 AM (CST)
MY SWING NUMBERS 1/19
FEBRUARY GOLD
RESISTANCE # 2……….$1385.00
RESISTANCE # 1……….$1377.00
PIVOT …………..$1368.00
SUPPORT # 1……………$1358.00
SUPPORT # 2……………$1348.00
MARCH SILVER
RESISTANCE # 2……….$28.70
RESISTANCE # 1……….$29.37
PIVOT ……………………$28.69
SUPPORT # 1……………$28.28
SUPPORT # 2……………$27.68
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.
