Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
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
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.
