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 Gold session covered a traded a very technical $13.40 range as traders awaited the results of the FOMC 2 day meeting. The results of the FOMC meeting stated that the FED voted unanimously to keep everything the same including unchanged interest rates and quantitative easing. They also stated that the the recovery has been “insufficient” to reduce joblessness and called the Housing sector depressed. Gold and Silver both settled higher today as the U.S Dollar was lower versus the Euro. The precious metals had been on a spiral downward due primarily to the raising of key interest rates from the central banks of China, Thailand, and India to name a few. These nations central banks raised their rates in order to curb their countries historically high inflation.
REPORTS 1/27
Initial Jobless Claims………………7:30 AM (CST)
Durable Goods…………………….7:30 AM (CST)
Export Sales……………………….7:30 AM (CST)
MY SWING NUMBERS 1/27
FEBRUARY GOLD
RESISTANCE # 2……………………..$1345.00
RESISTANCE # 1……………………..$1340.00
PIVOT…………………………………..$1332.00
SUPPORT # 1…………………………$1326.00
SUPPORT # 2…………………………$1319.00
VOLUME……………………………………144k
MARCH SILVER
RESISTANCE # 2……………………$27.56
RESISTANCE # 1……………………$27.35
PIVOT………………………………… $27.00
SUPPORT # 1………………………..$26.79
SUPPORT # 2………………………..$26.44
VOLUME………………………………….40K
Mike Daly / Gold Specialist
PFG BEST [email protected]
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.
