Peru’s small miners block highways, camp outside Congress demanding registry extension
Analyst says that there are strong competing interests between Congress and small-scale miners that could escalate.
Today’s Gold trade covered a $19.50 range as the market rallied from early losses to post a gain of $13.70. the market remains skittish as traders are uncertain on how to decipher the recent economic data….
There are indications that the economy is growing but certainly not as fast as we hoped. The European Union’s Central Bank has held its interest rate at 1%… as rising market borrowing costs and the sovereign debt crisis continue to threaten the Euro region. This basically is telling global investors that the economic climate of the globe is very fragile. This is the justification for the resiliency of Gold. The world demand for tangible assets and the safe haven appeal have been the underlying fundamental that is keeping Gold around $1200.00…
MY SWING NUMBERS 7/12……AUGUST GOLD
RESISTANCE # 2…………..$1226.00
RESISTANCE # 1…………..$1218.00
PIVOT………………………….$1206.00
SUPPORT # 1……………….$1198.00
SUPPORT # 2……………….$1186.00
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-775-3014
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
