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 trade remained strong as the debt crisis in the European Union continues to drive European as well as global investors into “safer havens”. The economic climate in the Euro states seems to worsen on a daily basis as today we learned Standard & Poor’s downgraded Spain’s credit rating to AA from AA+ and stating the outlook was negative…
According to (IMF) International Monetary Fund Chief Dominique Strauss-Khan… the aid package for the bail-out of Greece would be worth 100-120 billion Euro’s over a three year period… Germany has been reluctant to come to the aid of Greece stating “Greece must commit to further savings measures and show it can return to a sustainable economic path before Germany can approve emergency aid” said German Chancellor Angela Markel…
German Finance Minister Wolfgang Schaeuble attempted to put a positive spin on Greece’s fiscal needs by stating “The goal of the German government is … if the meetings in Athens with the Greek government, the IMF, the European Central Bank, and the European Union Commission succeed… to come to a decision as quickly as possible” he also stated “The stability of the EURO is the question, the last resort question. We’re seeking backing in the parliamentary groups for a speedy process, by Friday. And then we’ll pass a corresponding law next Monday”….
There are at least two more Euro States struggling with debt crisis’ of their own…ITALY and IRELAND…. The Euro States have had an extremely rough couple of days….Greece, Portugal, and Spain all had their credit ratings downgraded by Standard and Poor’s….
The buying of bullion has been sluggish from the jewelers of India the past few sessions due to higher prices….
FOMC….decided to maintain the current interest rate level…
World-wide investors are watching the fiat currencies instability and appear to be moving to hard assets as a flight to safety in times of crisis. Gold hurdled key resistance levels ($1169-$1175) today before settling at $1171.80….AMAZING!!!
REPORTS: THURSDAY 4/29
EXPORT SALES……………..7:30 am (CST)
JOBLESS CLAIMS………….7:30 am (CST)
My Swing Numbers ….Thursday 4/29… June Gold
RESISTANCE # 2………………….$1183.00
RESISTANCE # 1………………….$1177.00
PIVOT ………………………………..$1169.00
SUPPORT # 1………………………$1163.00
SUPPORT # 2………………………$1155.00
Mike Daly / Gold Specialist
PFG BEST
877-294-4669 312-563-8029 312-775-3014
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
