Wednesday, May 02, 2007

Gold Close $2.20 Lower Today.....................

Today's Gold trade has traded like in the several previous sessions. It was very CHOPPY and has watched the U.S. Dollar very closely and has abandoned the huge Crude Oil market swing as of late. The very strong Stock Market seem to have much of the industry investor money. Gold is a great safe-haven investment but due to tremendous sell-offs in the Gold in recent months the public seems to be on the side-lines awaiting strong economic news or Geo-political news to that will choose the Gold markets direction. Bad news in the Middle-east will probably cause a shift of funds back into the very Choppy Gold market. This is a good time to look at BULL/CALL Gold Strategies.(LONG TERM)............$6.20 RANGE TODAY
HIGH....676.20 LOW...670.00 CLOSE...675.10...............
REPORTS : JOBLESS CLAIMS & EXPORT SALES.....7:30 am. Thursday (CST)
my guideline numbers 5/3...Thursday....June Gold.............
resistance # 2............................680.00
resistance # 1............................678.00
pivot..................674.00
support # 1................................672.00
support # 2................................668.00

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