Friday, November 17, 2006

Friday's Gold Market Closes .80 Cents Higher

Friday's Gold market closed .80 cents higher on the day at 622.50 after rebounding from 614.50 early in the session. Reports showed that the Housing Market has really slowed, but more importantly housing permits for next years construction are down 6%...That's huge.
Those numbers alone took the U.S Dollar Lower and helped the Gold Rally to close Higher
for the day. As I said yesterday expect a very choppy trade til year end.
Today's HIGH......622.90
LOW.......614.50
CLOSE....622.50

The following are my guideline numbers for Monday 11/20 for December Gold.........

resistance # 2............628.50
resistance # !.............625.50
pivot ..............620.00
support # 1................617.00
support # 2................611.50

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

TO OPEN AN ACCOUNT,DISCUSS RATES, FREE CONSULTATION
CALL------888-282-2770

TRADE SMART.......

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