Gold Closes $3.50 Lower

Thursday's Gold market traded in a $6.80 choppy range. Many Traders were sitting on the side-lines today waiting to see what the two economic reports released Friday would reveal.
(Unemployment & Export Sales ..Friday 7:30 am cst.) With a very strong U.s Dollar(up 40+ pts. @ Gold close) and the Crude Oil getting crushed (down 220 = pts. @ Gold close) the gold sector seemed to try to take it higher early and were reluctant to stay with trading positions on both sides of market. After a trading session like yesterday it's certainly understandable.
This very mild winter in the Midwest and East Coast has forced the price of Crude Oil to trade below fundamental levels. The OPEC production cut is suppose to take effect February 1.
High...632.80 Low...626.00 Close...626.30

The following are my guideline numbers for 1/5 for February Gold..............................

resistance # 2...............................635.00
resistance # 1...............................631.00
pivot ............................628.50
support # 1.............................. 624.00
support # 2...............................621.50

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

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