By Mike Daly | February 23, 2012 3:32 AM IST
Precious Metals Market Comments
Precious Metals Market Comments
Gold Settled $12.80 Higher ... ($1771.30)
Today's April Gold Futures contract traded $23.50 range as traders and investors continue to choose Gold as their safe haven investment choice. The geo-political tension with Iran has traders concerned that the volatile situation may escalate into a warring environment. And as we Gold bugs are aware a warring environment especially in an Oil producing region traditionally is very "bullish" for Gold. The session traded a very tight range as the April contract ranged between $1750.00 & $1758.00 until 12::00 noon before rallying $1774.20 shortly before the session closed. As of this post the April Globex market traded as high as $1783.40.
April Crude Oil futures traded as high as $106.72 per barrel today.......
March Silver was unable to maintain its rally momentum and actually closed 17.5 cents lower at
$34.28.9 per ounce.
ECONOMIC DATA 2/23
INITIAL JOBLESS CLAIMS............7:30 AM. CST.
MY SWING NUMBERS 2/23
APRIL GOLD
RESISTANCE # 2...............$1789.00
RESISTANCE # 1................$1779.00
PIVOT..............................$1765.00
SUPPORT # 1....................$1757.00
SUPPORT # 2....................$1721.00
VOLUME...........................133,000
MARCH SILVER
RESISTANCE # 2................$34.71
RESISTANCE # 1................$34.50
PIVOT...............................$34.20
SUPPORT # 1.....................$33.99
SUPPORT # 2.....................$33.69
VOLUME...........................50,000
There is a substantial risk of loss in trading futures and options. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. PFGBEST, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.
- Iran To Build New Oil Terminal Outside Gulf
- Crude Oil Daily Outlook
- Australian Stock Market Report – Midday 5/22/2012
- Bad News Outside Eurozone Sent Markets Lower
- London Olympics 2012: Ben Ainslie Sets Sail for Greatness
- Mysterious Ancient Gold & Silver Jewellery Hidden In Iron Age Vessel Discovered in Israel
- Q&A: Anglo-Codelco dispute
- Ivanhoe Mines narrows Q1 loss
- Kazakhmys chairman to step down
- Goldcorp stops work on Chilean mine after permit suspended
- Miner Teck Resources posts best-ever revenue
- Teck Resources profit rises as coal offsets copper costs
- Baja Mining shares slammed as costs at Boleo project rise, directors resign
- Saskatoon firm plans marijuana farm in old copper mine
- Asia Stocks to Watch: Growth, deals key for Australian copper firms
- Poland’s KGHM steps on to world stage





