Bullish News For Gold................

Monday's Gold trade was fueled by plenty of bullish news for the Gold sector.
The sluggish Housing Sales continue to spark fears of a slowing economy. (Sluggish Economy = Bullish Gold). Continued speculation that North Korea is preparing for another nuclear test. (Threat of World Hostility = Bullish Gold). 4 th Quarter purchase of huge amounts of physical Gold around the world. ( Supply & Demand = Bullish Gold). According to ABC NEWS : Ayman al Zawahiri (al Qaeda's # 2 man) was targeted in a missile attack this morning according to Pakistani intelligence sources. I believe this really fueled an already bullish trend during the session. At one time the December Gold was $12.00 and change higher on the day. The Gold settled at 607.40 for the day.

The following are my guideline numbers for 10/31 Tuesday for December Gold......................

resistance # 2................................619.00
resistance # 1................................613.00
pivot ..................................606.50
support # 1...................................600.00
support # 2.................................. 593.50

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


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