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 session covered a mild $14.60 range compared to yesterday’s $35.30 range. The gold waffled all day between positive and negative for the session. This was due to news and data released throughout the session as traders and investors alike are trying to absorb and decipher all the global data.
Yesterday’s avalanche sell-off was directly linked to indications that the Chinese Central Banks were considering raising their interest rates again…Today the Chairman of the United States – China Economic and Security Review Commission Dan Slane stated the report “reflects the commission’s conclusions that China has failed in some notable area’s to fulfill promises it made nine years ago when it joined the World Trade Organization….This was followed by a recommendation that the U.S Treasury Department label China as a “currency manipulator’ for unfair trade advantages…
Today’s Globex December contract traded over 142,000 contracts. Senator Richard Shelby (Alabama) told sources that Ben Bernanke is defending the quantitative easing 2 and defended his FED studywhich indicates the QE 2 will add an additional million jobs….
REPORTS: 11/18
EXPORT SALES…………………..7:30 AM (cst)
INITIAL JOBLESS CLAIMS……..7:30 AM (cst)
MY SWING NUMBERS 11/18….DECEMBER GOLD
RESISTANCE # 2………………$1352.00
RESISTANCE # 1………………$1344.00
PIVOT…………………………….$1337.00
SUPPORT # 1…………………..$1330.00
SUPPORT # 2…………………..$1322.00
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.
