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Tuesday, May 31, 2011

Gold and Silver Daily Report 1 june 2011

Gold and Silver Daily Report 1 june 2011 ;- Gold Settles 50 CENTS Lower... ($1536.80) : Today's trading session covered a very quiet $8.80 range as traders may waiting for this week's economic data to be released before making their trading strategies. This Friday's unemployment data will capture the eyes of traders and investors world-wide. Especially since the state of the European Union remains very fragile. A GOOD Jobs report will signal an ever strengthening economy in the United States.

Today's Gold session retreated from overnight high's as traders took profits as the Gold market failed to retain its momentum. Many traders may have held long positions in anticipation of possible geo-political action during the "Memorial Day" holiday.

Canadian Central Bank decided to leave their Interest rates unchanged as expected...which lent some stability to Gold... Greece is the center of the Euro Zones woes... it is being reported that members from the German parliament are suggesting that maybe Greece should return to the Drachma and exit the European Union.....This situation appears to be changing minute to minute.....

Economic data 1 june 2011
Construction Spending .....9:00 am cst.
Manufacturing Index..........9:00 am cst.

MY SWING NUMBERS 6/1
AUGUST GOLD
RESISTANCE # 2.........$1546.00
RESISTANCE # 1.........$1541.00
PIVOT.........................$1537.00
SUPPORT # 1............ $1532.00
SUPPORT # 2.............$1528.00
VOLUME......................95,000

JULY SILVER
RESISTANCE # 2............$39.28
RESISTANCE # 1............$38.80
PIVOT............................$38.28
SUPPORT # 1................$37.80
SUPPORT # 2................$37.28
VOLUME........................53,000

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.hken.ibtimes.com...

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