Friday, May 18, 2007

Today's Gold Market Closes Up $4.80..........

Today's Gold trade was fueled by Geo-political news. ABC NEWS reports: Israeli Planes pounded Hamas targets in response to rocket attacks in southern Israel.....This along with reports of still another Oil Refinery repair was not good news for the U.S. Dollar.(down 17 points at Gold close).
Gold traded in a very technical $7.50 point range today. The trade was CHOPPY..............
The weaker Dollar helped Gold close up $4.80 on the day...................
HIGH.....664.00 LOW....656.50 CLOSE.....662.00
The following are my guide-line numbers for 5/21 JUNE GOLD....................
resistance # 2.........................668.50
resistance # 1.........................665.50
pivot.........................661.00
support # 1.............................658.00
support # 2............................ 653.50

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