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.
The Gold market sold off today as traders took profits technical resistance levels held early and the market felt a bit top-heavy. The Globex exchange covered a $19.50 range as gold tumbled from its all time highs.
Fomc Chairman Ben Bernanke testified before the House Budget Committee and the following are some the highlights……..
“The Fed will take all necessary steps to aid in the economic recovery”
“The tight credit is restraining commercial real estate”
“Housing activity firmed only a little since mid-2009”
“Global investors have viewed treasuries as a safe haven”
“Long run inflation expectations have been stable”
“Inflationism likely to remain subdued”
“U.S Budget seems on “unsustainable path”
REPORTS:
Export Sales…..7:30 an (CST)
Initial Jobless Claims…7:30 am (CST)
U.S Trade Balance……7:30 am (CST)
Supply & Demand…….7:30 am (CST)
SWING NUMBERS
RESISTANCE # 2………..$1260.00
RESISTANCE # 1………..$1241.00
PIVOT……………………….$1231.00
SUPPORT # 1…………….$1222.00
SUPPOER # 2…………….$1212.00
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-775-3014
312-563-8029
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
