Markets

Daily Gold and Silver Report

Gold Settles $3.80 Higher... ($1500.20)

Today's trading session covered a quiet $11.50 range as traders are content to wait for tomorrows austerity vote in Greece. (Athens is eight hours ahead of Chicago, so the planned vote at 2pm in Athens is 6:00am CDT.)

By Maria Petrakis and Natalie Weeks June 28 (Bloomberg) -- Greece's Parliament will hold a roll-call vote on the government's medium-term fiscal plan at 2 p.m. Athens time tomorrow, according to Grigoris Niotis, the deputy speaker of the legislature. The final session of the three-day debate will begin at 9:30 am tomorrow, Niotis said in comments televised live on state-run Vouli TV.......

Most analysts believe Greece will indeed pass this austerity vote. It appears some members of the socialist parliament who were originally opposed to this austerity plan have indeed changed their mind and will vote for it this time around.... The investor community is also watching Italy as reports reveal a credit rating downgrade for Italy my happen soon....

Silver also traded a very quiet 62.5 cent range and settled $33.63.8 per ounce for the session.

MY SWING NUMBERS 6/29

AUGUST GOLD

RESISTANCE # 2............................$1511.00

RESISTANCE # 1............................$1505.00

PIVOT............................................$1500.00

SUPPORT # 1 .........................$1494.00

SUPPORT # 2.............................$1489.00

VOLUME........................................88,000

JULY SILVER

RESISTANCE # 2.............................$34.41

RESISTANCE # 1.............................$34.07

PIVOT.............................................$33.79

SUPPORT # 1.................................$33.39

SUPPORT # 2.................................$33.17

VOLUME....................................... 55,000

Mike Daly / Gold Specialist

PFG BEST

mdaly@pfgbest.com

312-563-8029

877-294-4669

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.

Other Topics

Commodities

Latest Markets Videos