Newmont sells Éléonore mine in Quebec for $795m
The miner said the deal and other 2024 sales will raise $3.6 billion.
Today’s day session produced another all-time high as the Globex December Gold contract traded $1424.30 for a high. Today’s trade was very choppy and volatile as trader’s uncertainty at these un-chartered levels fueled a late session sell-off.
The underlying fundamental continues to be a strong demand for physical Gold as traders and investors alike are choosing Gold and silver as their “safe haven” currency of choice. The global economy has forced investors to lose confidence in the world’s financial regulators as well as the fiat currencies.
The fragility in the Euro region has helped to fuel global demand along with the ever present insatiable demand from the Asian sector the physical demand is huge…..
Chinese government officials are continuing their criticism of the “loose” monetary policies abroad, particularly the recent “quantitative easing” policy revealed last week from the FOMC….
THIS IS GOING TO ESCALATE
REPORTS: Wednesday 11/10 …December Gold …..
INITIAL JOBLESS CLAIMS…….7:30 AM (CST)
U.S. TRADE BALANCE………..7:30 AM (CST)
MY SWING NUMBERS 11/10…………
RESISTANCE # 2………………$1432.00
RESISTANCE # 1………………$1416.00
PIVOT ……………………………$1408.00
SUPPORT # 1…………………..$1393.00
SUPPORT # 2…………………..$1384.00
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.
