Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Today’s Gold session covered a very volatile and choppy $17.30 range. Once again the Gold market could not maintain early session momentum and sold off as the U.S Dollar rallied. Volume was moderate as many traders are awaiting tomorrow’s economic data as well as Friday’s unemployment number. Volume was also affected by blizzard conditions that covered much of the Midwestern states. Gold continues to struggle to break through the upside resistance levels. Gold bugs continue to keep a watchful eye on the situation in Egypt. If the situation there escalates it could certainly be bullish for gold. If the Monarchy falls it will send the price of crude oil sky rocketing and that would be bullish for precious metals.
REPORTS: 2/3
INITIAL JOBLESS CLAIMS………..7:30 AM (CST)
EXPORT SALES……………………….7:30 AM (CST)
FACTORY ORDERS………………….9:00 AM( CST)
My swing numbers 2/3
APRIL GOLD
RESISTANCE # 2…………………….$1352.00
RESISTANCE # 1…………………….$1343.00
PIVOT…………………………………..$1335.00
SUPPORT # 1………………………..$1325.00
SUPPORT # 2………………………..$1318.00
VOLUME……………………………….97,000
MARCH SILVER
RESISTANCE # 2……………………$28.99
RESISTANCE # 1……………………$28.64
PIVOT………………………………….$28.37
SUPPORT # 1……………………….$28.02
SUPPORT # 2……………………….$27.75
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.
