India slashes import tax on gold, silver to tackle smuggling
Local gold prices hit their lowest level in more than three months after the announcement.
Today’s trading session produced a $12.30 subdued range as traders appeared to take profits ahead of the Thursday Thanksgiving Day Holiday. Volume remained crisp as traders received strong Initial Jobless Claims data as the Department of Labor revealed that initial weekly claims were 407.000 far better than the 435,000 analysts projected….I believe many traders still believe the Peoples Bank of China intend to hike interest rates and liquidated their LONG positions in favor of banking profits…
It has been reported that the Irish government has revealed an array of strong austerity measures to alleviate Ireland’s debt crisis.
These include:
* A reduction of 1 Euro for minimum wage…(7.65 Euro’s per hour)
* A reduction of 24,750 public sector jobs…
* A new property tax…
REPORTS: FRIDAY 11/26….
EXPORT SALES……………7:30 am (CST)
MY SWING NUMBERS 11/26…..DECEMBER GOLD
RESISTANCE # 2………$1386.00
RESISTANCE # 1………$1379.00
PIVOT…………………….$1374.00
SUPPORT # 1…………..$1367.00
SUPPORT # 2…………..$1362.00
MY SWING NUMBERS 11/26….DECEMBER SILVER
RESISTANCE # 2………$28.02
RESISTANCE # 1………$27.78
PIVOT…………………….$27.44
SUPPORT # 1…………..$27.19
SUPPORT # 2…………..$26.86
** HAPPY THANKSGIVING **
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-563-8029
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