Today’s Gold session covered a $13.30 choppy range. Despite a stronger U.S. Dollar the Gold and Silver markets rallied mid – late session to close higher on the day. Overnight buying from India provided along with a potential conflict between North and South Korea sent investors buying gold.
Despite more South Korean military exercises including live fire on the island of Yeonpyeong there was no retaliation this time from North Korea. North Korean state media quoted the army as saying “it was not worth reacting.” They have been the center of negotiations with the UN Security Council this weekend which ended without a deal.
Today’s trade was calm and indicated that the Christmas Holiday’s market was in full swing… Volume…83,000 plus…..(half of last week).
MY SWING NUMBERS FEBRUARY GOLD 12/21
RESISTANCE # 2……………….$1397.00
RESISTANCE # 1……………….$1391.00
PIVOT……………………………..$1384.00
SUPPORT # 1……………………$1378.00
SUPPORT # 2……………………$1371.00
MY SWING NUMBERS MARCH SILVER 12/21
RESISTANCE # 2……………..$29.90
RESISTANCE # 1……………..$29.63
PIVOT……………………………$29.22
SUPPORT # 1………………….$28.95
SUPPORT # 2………………….$28.54
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.