Gold Tumbles $13.40 Lower Today...........
Once again the credit crunch took the Stock Market over 200 points lower today. The Gold sell-off continued as investors liquidated old and new positions to cover Stock margins. ...(This is the first thing I read this morning.............) DJ MARKET TALK: Spot Gold Slips As Credit Crunch Tightens(DJ) 1246 GMT [Dow Jones] Spot gold slips amid unexpected US dollar strength as global credit market concerns tighten, notes a trader. Says the rout has spread to Europe, with BNP Paribas to freeze redemption's from three funds because of losses on asset-backed securities. Spot gold trades at $663.95/oz, -1.5% on the day. (ADH) The market opened $8.00 lower and traded in a tight $3.50 range all day. Reports:..SUPPLY & DEMAND...7:30AM. CST. HIGH...669.00 ,,,LOW...665.50 ,,,CLOSE...666.50 The following are my swing numbers for Friday 8/10 October Gold..................... resistance #2.....................671.00 resistance #1.....................668.50 pivot..............667.00 support #1..........................665.00 support #2..........................663.00 TRADE SMART............ FREE OPTIONS STRATEGIES BOOKLET OPEN AN ACCOUNT....FULL SERVICE / SELF DIRECT......... 888-282-2770...................................... |
0 Comments:
Post a Comment
<< Home