Gold Trades A $7.00 Range ...........

Monday's trading session opened higher and after making it's 609.50 high it broke and drifted lower most of the day. Even with a very weak U. S. Dollar the Gold community chose to follow the very negative Crude Oil market (140+ pts. Lower at the Gold close).
The Yom Kippur Holiday was a big part of the slow trade today. But news of Venezuela and Iran threatening to cut oil production should have made the Crude Oil rally. The news of high importing of physical Gold (India,China,Turkey,) should have caused Gold to rally.
I believe this was a typical holiday market with very light volume and light profit taking.
LOOK at my first resistance level.......From Friday.......

The following are my guideline numbers for 10/01 Tuesday in December Gold.............

resistance # 2................612.00
resistance # 1................608.00
pivot ......................605.00
support # 1 ...................601.00
support # 2....................598.00

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

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