Imperial Metals extends mineralization at Mount Polley mine
Mineralization was extended over a 895-metre interval grading 0.26% copper and 0.32 g/t gold.
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
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312-563-8029
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