Tuesday, May 15, 2007

Today's Gold market Closed Up $4.40 ...........

Today's Gold trade was a very technical trade (holding support area's)and getting help from a weak U.S. Dollar (down 37 points at the Gold close) and reports that demand world-wide are up.
The market traded in a $9.00 range and settled $4.40 Higher on the day. A couple of key reports tomorrow...HOUSING STARTS..7:30 am......INDUSTRIAL PRODUCTION.. 8:15 am. both are Central Standard Time...............The U.S Dollar hasn't been able to put a string of up days together.....and it appears the Gold is tracking (opposite) the Dollar more than following the Crude Oil as of late. HIGH...675.00 LOW..666.00 CLOSE..674.50............
the following are my guide-line numbers for 5/16....June Gold......................
resistance # 2.................681.00
resistance # 1.................678.00
pivot..................672.00
support # 1.....................669.00
support # 2.....................664.00

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