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 Globex market covered a $23.60 range as traders tried to decipher all the news affecting Gold. It appears based on the late session rally that the global investors are choosing gold as their preference.
With all the Geo-political issues taking place around the world I believe investors have lost confidence in the fiat currencies and are choosing tangible assets. Warring environments tend to send investors into “safer haven” markets…
The global demand remains very strong and this was evident once again as the recent price dip produced strong buying interest from India. The Central Bank of Iran announced yesterday that they would sell 45 billion Euros from its reserves to buy U.S Dollars and gold ingots.
Today’s unemployment fell way short of expectations. Payrolls rose by 431,000 last month which was much lower than the 536,000 that was projected. This number also reflected the 411,000 temporary government jobs(2010 census workers)… Any jump in employment is obvious good news however, this is a sure indicator that the economic recovery is moving slower than expected.
My swing Numbers for Monday June 7th .. August Gold
RESISTANCE # 2………………$1235.00
RESISITANCE # 1 …………… $1226.00
PIVOT………………………………$1212.00
SUPPORT # 1…………………..$1203.00
Mike Daly / Gold Specialist
PFG BEST
877-294-4669
312-563-8029
312-775-3014
*THERE IS EXTREME RISK TRADING FUTURES, OPTIONS, and FOREX*
