Gold Tumbles

Thursday's Gold market opened at 641.00 and proceeded to trade down to 621.00 during the trading session before closing at 624.90. Many in the Gold trading community believe a very strong Dollar, a significant decline in Equity prices, and long positions taking profits started the ball running downhill.
The news out of the Middle-east : The lifting of the Air Blockade in Lebannon and The United Nations and Iraq moving closer on their negotiations has also been bearish for Gold.

The following are my guideline numbers for Friday 9/8 for December Gold

resistance # 2 ......................653.00
resistance # 1 ......................639.00
pivot .....................................630.00
support # 1 ..........................616.00
support # 2 ..........................607.00


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