Gold rallies on U.N . Reports

The overnight session was slightly positive and todays day session continued the trend closing $7.00 dollars higher for the day(626.10). Despite a positive U.S. Dollar and another negative trading session for the Crude Oil it appears the Gold market is reacting to the United Nations/Iran showdown. Even with the threat of economic sanctions U.N. officials say "Iran is still enriching Uranium"and the U.N. Security Council had set Thursday as the final day to stop such activity.

The following are my guideline numbers for 8/31 Thursday/December Gold

resistance # 2...............................635.00
resistance # 1...............................630.50
pivot .............................................625.00
support # 1...................................620.50
support # 2...................................615.00


resistance = possible opportunity to sell market
support = possible opportunity to buy market
pivot = possible point in the market to determine direction