Imperial Metals extends mineralization at Mount Polley mine
Mineralization was extended over a 895-metre interval grading 0.26% copper and 0.32 g/t gold.
Today’s session covered a $10.50 range as the news and rumors from Libya had investors and traders watching the newswires. Thousands of foreigners are trying to escape the chaos of Tripoli which is Libya’s capital city. It has been reported that the U.S. and European governments have sent ferries and military aircraft to get their citizens out. There have been reports of heavy casualties in cities surrounding Tripoli. Threatening the supply of Crude oil has ultimately been fueling oil prices to breach the $100.00 per barrel level (HIGH TODAY =$103.41). Higher Crude prices are inflationary and would be “bullish” for both Gold and Silver. Gold should continue to be supported by these geo-political tensions.
Libya is a OPEC member and produces 1.6 million barrels of oil a day.
After the day session closed Gold and Silver both sold off hard based off RUMORS that Qaddafi was preparing to flee to Zimbabwe…… KEEP AN EYE ON THIS.
JOBLESS CLAIMS were 14,000 less that forecasted.
ECONOMIC DATA 2/25
GDP…………………7:30 am (CST)
EXPORT SALES….7:30 am (CST)
MY SWING NUMBERS
APRIL GOLD
RESISTANCE # 2…………………….$1425.00
RESISTANCE # 1…………………….$1420.00
PIVOT ………………………………….$1414.00
SUPPORT # 1………………………..$1409.00
SUPPORT # 2………………………..$1403.00
MARCH SILVER
RESISTANCE # 2……………………..$33.11
RESISTANCE # 1……………………..$32.79
PIVOT…………………………………….$32.27
SUPPORT # 1…………………………$31.64
SUPPORT # 2…………………………$31.43
Mike Daly / Gold Specialist
PFG BEST
312-563-8029
877-294-4669
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
