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Daily Gold and Silver Report

Gold Settles Unchanged Today... ($1538.70)

Despite a $16.80 trading range today's Gold session settled unchanged from yesterday's settlement. Today's trade was very technically based as it seemed to trade around the $1539.00 PIVOT all morning. The Gold market produced an impressive rally between 10:00 and 10:30 am CST. In which it rallied from the $1539.00 level to its high of $1550.80 before retreating To its unchanged status for the day. Higher Crude Oil prices helped to fuel Gold's early momentum.

News from the European Union appears to be sketchy at best as an agreement between The European Union and Greece concerning the new fiscal plan apparently has been reached. Today the Greek cabinet has approved a plan for a sale of Greece's assets in order to repay previous loans.... Stay tuned this scenario changes by the minute !......... There are strong hints that China and European Union Intend to raise their Interest Rates....It is thought that the European union will raise in July and China may be sooner than later.......Both Central Banks are citing very high inflation......

Today's initial jobless Claims 8,000 more than projected At 427,000.....FOMC Vice-Chairman Janet Yellen Say's she sees "No quick or easy solution for the housing market". And stated that the housin recovery would be "drawn out revovery" Asnd also acknowledged that the price tumble in the housing Sector has left "deep scars" on families.......

There are reports out of Libya stating that Moamar Gaddafi's days as leader of Libya may be numbered.....

Silver closed 80.4 cents higher and settled at $37.42.4 for the session.......

MY SWING NUMBERS FOR 6/10

AUGUST GOLD

RESISTANCE # 2................$1557.00

RESISTANCE # 1................$1548.00

PIVOT...............................$1541.00

SUPPORT # 1.....................$1532.00

SUPPORT # 2.....................$1524.00

Volume...............................93,000

JULY SILVER

RESISTANCE # 2...................$38.25

RESISTANCE # 1...................$37.84

PIVOT..................................$37.20

SUPPORT # 1........................$36.79

SUPPORT # 2........................$36.15

Volume..................................39,000

Mike Daly / PFG BESY

Gold Specialist

mdaly@pfgbest.com

877-294-4669

312-563-8029

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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