Thursday, May 03, 2007

Gold Closes Up $9.30 Today............

Despite a Stronger U.S. Dollar (19 higher at Gold close) and a Crude Oil market that was 60 pts .+ Lower during the same period it certainly didn't hamper the very strong Gold market today.
I believe investors felt comfortable buying Gold around the technical $675.00 technical level.
The $675.00 area has for a practical purposes has held better than expected and appears to have give Bulls a level to jump in.news of a surge in World demand for Gold certainly helped to fuel the rally today. The Gold was very strong start to finish and covered a $9.30 range...
HIGH...........685.20 LOW.........675.80 CLOSE.......684.40...............
REPORTS : Friday 7:30 am. (CST) UNEMPLOYMENT REPORT.................
The following are my guide-line numbers for 5/4 Friday...June Gold......
resistance # 2.............691.00
resistance # 1.............675.00
pivot........682.00
support # 1.................679.00
support # 2.................673.00

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