Recently in Precious Metals Category

There are many sites on the internet to buy gold and silver. These sites are responding to the the great demand for these type of services. With the economy going the way it is, the need for these type of websites has never been greater. With so many sites to chose from, it is often easy to get confused as you wade through the large amount scrap metal, to find the "gold". With Bullion Vault, there is no reason to look further if you are ready to trade in precious metals.

Bullion Vault is a well organized, professional, website with many user friendly and unique features. The site has easy to use menus, interfaces, is well ordered, and has a clean design. You can find useful information about the company on the site. You will find that Bullion Vault is a reliable, very solid firm which has developed many innovative steps that are effective and and are easy to use.

The premise of Bullion Vault is simple, to be a source of liquidity for precious metals. This is a service that has been lacking for investors for a very long time. This makes the company stand out from all of the rest of similar sites.

An average investor that owns gold and silver often finds liquidating the precious metals can be a huge problem. Being able to quickly turn your assets into cash when you see a rise in the market is a extremely valuable service. Bullion Vault allows you to do just this, quickly and easily.

Bullion Vault does this by selling and buying precious metals with in its vaults, transferring the ownership without actually transferring the gold and silver. In this way, Bullion Vault serves as a storage unit, a broker, and a salesman for all your gold and silver transactions. You can buy precious metals from the site and store it in their vaults. Once you find a buyer, Bullion Vault will handle the transaction and will make a direct deposit to your bank account with the proceeds.

Bullion Vault offers many additional services and features. The depth of services makes the vault one of the most convenient and well rounded of any of these type of website services. A few of the best features include:

- Transactions are denominated in Euros, U.S. Dollars, or British Pounds to give you a great international market.

- It is a 24hr, seven day a week marketplace. The trading goes on everyday, allowing you take advantage of any chance in the market.

- There is only a 0.12% storage fee for gold and silver annually. If you store $1,000 worth of metals, you pay only $1.20 for the storage. This is one of the lowest rates to be found anywhere.

- The Bullion Vault market place allows you to buy and sell directly from other vault clients. Using the site as your transaction service, you can set your own terms of the sale of your gold and silver.

Gold Settles $16.90 Lower ... ($1630.80)

This week the February Gold futures traded a choppy and volatile $57.20 range as traders attempted to decipher the geo-political and economic data. The news this week was mostly bullish for precious metals however, the past session and a half has forced traders to liquidate and take profits as the European Union's financial fragility has once again given strength to the U.S Dollar. Earlier in the week the precious metals rally momentum had been fueled by an assortment of bullish data that is still very prevalent but, is being over the financial crisis in the Euro region. Today we learned that Standard & Poor's intended to downgrade much of the Euro states with the exception of Germany and the Netherlands...

Thursday:

Today European Central Bank President Mario Draghi stated the underlying pace of the EU's monetary expansion is moderate and sees tentative signs of stabilization in the economy. He also expects a gradual recovery but, warned the Euro region still has substantial downside risks. Gold also rallied as borrowing costs for both Spain and Italy were lowered. It is my opinion that global investors are speculating that the FOMC, the ECB, and China may all have intentions of near future monetary easing...

Investors are turning toward the precious metals as of late simply because they lack confidence in the world's fiat currencies. There has been heavy gold buying coming from the Asian sector primarily China and India.

The weekly Initial Jobless Claims number was 399,000. This was projected to be 375,000.

The rating agency Egan James announced that they cut Portugal's credit rating from BB -B+.

Wednesday:

Today's February Gold futures traded a choppy $17.20 range as traders used more bullish data to extend yesterday's rally momentum. Chicago Fed President Charles Evans said the economy was in need of additional stimulus and stated he was in favor of "substantial" additional easing and to continue to leave rates low until unemployment falls below 7% or inflation reaches 3%....

A possible quantitative easing 3 would be negative for the U.S Dollar and therefore bullish for Gold. Evans also added that if indeed there is a need or a QE 3 it would likely be $600 billion. The Gold market's recent rally has also been fueled by strong physical demand from India (#1 consumer of Gold) and China (#2 consumer of Gold in the world).China is preparing for the Lunar New Year (January 23rd) which is a key Gold buying period.

Tuesday:

Today's February Gold futures traded a choppy $32.30 range and traded as high as $1641.50 as much of today's economic and geo-political news was bullish for the precious metals. News from Iran indicated that had convicted and sentenced to death and imprisoned an American and former United States Marine Amir Mirzaei Hekmati for espionage. This conviction will probably be used as a bargaining leverage against the west. Iran has been defiant in regards to its uranium enrichment process in order to achieve nuclear capability. The west has levied heavy sanctions against Iran and in retaliation Tehran has threatened to close the Strait of Hormuz and disrupting the transportation of Crude Oil. News such as this raises the warring tensions and therefore causes concerns and speculations over the worlds crude oil supply.

Today's February Crude oil futures traded as high as $103.41 per barrel. Higher crude oil is inflationary and bullish for the precious metals.

The European Union and Japan announced that they are planning punitive cuts in oil imports from Iran.

After failing to import the 1000 ton on imported gold last year India's Central Bank allowed four more Banks to import Gold and Silver. Since India is the world's largest consumer of Gold this is considered to be very bullish Gold as well.

Also Sandra Pianalto Cleveland FED boss who has rotated to become a voting member of the FOMC has hinted that she would support more "Quantitative Easing"....Printing more U.S Dollars would be very bullish for the precious metals...

Monday:

The Gold market's momentum was halted as it reached the $1625.00 technical resistance level. It is my opinion that traders and investors alike are looking to re-enter the precious metals markets due the huge volatility in the global market place. I believe that investors are still a bit gun shy in the wake of the enormous sell-off that occurred in the Month of December. On December 2nd February Gold was trading at $1767.10 and traded as low as $1523.90 on the 29th. That's a drop of $243.00 in 27 days. I believe all eyes are still watching the situation with Iran as well as the continued concern with the European Union's fragility. As we know Gold and Silver retain value better than most commodities during times of crisis. The recent spike in crude oil prices is considered to be inflationary. And if there is a warring environment due to tensions with Iran speculators will buy Gold in anticipation of higher oil prices...

Monday is a national Holiday...Exchanges closed in observance of Martin Luther King Jr...

MY SWING NUMBERS FOR 1/16
February Gold
Resistance # 2.........$1661.00
Resistance # 1.........$1646.00
Pivot .....................$1636.00
Support # 1............. $1621.00
Support # 2............. $1611.00

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.

A sound investment idea is to replace under-performing assets in your existing IRA/Roth account to establish a Rare Industrial Metals and Silver (RIMS IRA). This is a wise asset protection choice.

Rare Industrial Metals are increasing in value and are estimated to continue growing due to their limited supply and high demand by key industries. Many individuals are using their IRA funds to take financial advantage of this opportunity and further protect assets through a RIMS IRA.

Although using a RIMS IRA in your existing IRA is a smart choice, it must be done correctly. It is a very different process than directly purchasing Stocks/Bonds and Mutual Funds in your existing IRA/Roth account. Utilizing your IRA/Roth liquid assets combined with a RIMS IRA can be a seamless process if you have our experienced London Metal Assets adviser and an appropriate custodian working with you from start to finish.

Having a RIMS IRA established properly for you with the help of Fyfield Metal Assets allows you to enjoy physical ownership of rare industrial metals in a fully appropriate IRS structure. This will give you full control of your assets with the continued tax benefits of a standard IRA/Roth account.

*Fyfield Metal Assets, its advisers and/or its affiliates are providing a service that facilitates the preparation of a Rare Industrial Metals and Silver IRA and are not giving any tax advice regarding rare industrial metals, silver or any other products. Please write to request an introduction to Fyfield Metal Assets.

February Gold Futures Settle At $1716.80 For The Week...

This week the February Gold futures contract covered a range of $55.60 with a high of $1760.50 and a low of $1704.90. The trade itself has been very choppy and volatile in a daily basis. It has been another week driven by news from the European Union. Early in the week there appeared to some optimism mixed with skepticism regarding the European Summit causing traders to cover short positions and profit taking. Many traders and investors alike heard the promises from Chancellor Merkel and President Sarkozy and were optimistic the European Summit would help the world regain confidence in the Euro region and the Euro Dollar. However the results of Thursday meeting disappointed the Global market place. There is obviously no quick fix, but it is my opinion the worlds investors felt more drastic measures could have been taken...

Noteworthy News This Week:

Thursday:

February Gold Futures traded another very volatile and choppy $52.70 range as the market reacted to the day's conflicting news and leaving investors and traders less than confident with the European Union's financial leadership. The European Central Bank cut its key interest rate by .25 basis points Thursday, but the majority of analysts predicted it would .50 basis points. The key interest rate sent gold rallying early in the session and producing a high of $1760.50. The rally was halted and an avalanche type sell-off followed after ECB President Mario Draghi announced that the purchase of sovereign bonds would be limited. Once again the leaders from the European Union disappointed the world markets. Today's United States Initial Jobless Claims was 381,000 this was much better than the 395,000 that was projected. All in all the news today was very "bearish Gold" and despite all the negativity February Gold is still trading above $1700.00 an ounce. It is reported that Standard Poor's may cut 15 Spanish Banks credit ratings......The news from the EU continues to worsen...

Wednesday:

February Gold Futures traded a very subdued $21.80 range as traders and investors may be side-lined awaiting news from tomorrows European Summit. As Timothy Geithner stated yesterday "the whole world is watching" and indeed that appeared to be the case today. Today's mid-late session rally may have been caused by some short position profit taking as well as some "bargain hunter buying" in my opinion. I think when the February Futures held the $1700.00 range yesterday it was technical and psychological buy signal. Tomorrows EU summit will hopefully be a powerful meeting resulting in a deal to get their debt crisis under control. President Nicholas Sarkozy and Chancellor Angela Merkel are expected to address the EU treaty, restore market confidence, and to prevent the sovereign debt crisis from spiraling out of control. Once again Standard and Poor's placed large banks on a negative credit watch including BNP Paribas, Commerzbank, Deutsche Bank, Societe Generale, Unicredit, Rabobank, Credit Foncier, Credit du Nord, Ulster Bank, and Banca Nazioale del Lavoro.Tomorrows summit coupled with the release of key U.S economic data should make for a very interesting trading session on Thursday...

Monday:

There was early optimism that the European Union leaders will devise a scheme to address the sovereign debt crisis in the region during their upcoming Thursday summit.
It is reported that the European Union will take big steps in an attempt to right the debt crisis ship. They are scheduled to discuss (1) Strengthening the European banking system (2) Ensuring global financial-system liquidity (3) Facilitating a de-leveraging of debt-encumbered economies (4) Ensuring sufficient growth within the global economy to boost demand for troubled economies.

German Chancellor Angela Merkel stated that France and Germany must work together in the closest terms and added the summit purpose is to regain lost confidence. French leader Nicolas Sarkozy said he wanted monthly Euro region summits during the crisis and in order to preserve Europe the crisis must be stopped.

Chicago Fed Boss Charles Evans said 'it is imperative for Fed to escape the liquidity trap and that further monetary stimulus is needed".

Late in the day session Standard and Poor's warned that Germany and other European states with AAA ratings are at risk of a downgrade. According to FT (Financial Times) Germany, France, Austria, Finland, and the Netherlands are on a negative credit watch. The downgrade has since been expanded to all 17 Euro states.

It certainly has been a rough week for the European Union and for gold bugs

NEXT WEEK: FOMC MEETING

My Swing Numbers 12/12

FEBRUARY GOLD
RESISTANCE # 2...............$1740.00
RESISTANCE # 1...............$1729.00
PIVOT.......... ..................$1717.00
SUPPORT # 1....................$1705.00
SUPPORT # 2....................$1694.00

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 mayor 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.

February Gold Settles At $1751.30 For The Week.

This week the February Futures Gold market traded very choppy and volatile $80.10 range. Friday's Unemployment data for November in total non-farm payrolls was +120,000 and The reading of the Unemployment rate is 8.6% better than the 9.0% that was expected. Friday's trading session covered a $25.40 range including a high of $1767.10 and a low of $1741.70.

Once again the Gold market could not hold early rally momentum and sold off shortly after the release of the 7:30 am (cst) Unemployment data. This week the Gold markets rally has been fueled by the injection of liquidity into the currency markets from the world's central banks. Also heavy hints from the FOMC suggest there will probably be a QE 3 sooner than later.

The week's noteworthy news:

Wednesday:
February Gold traded a $54.40 range and settled $31.40 higher as hints of a possible QE 3 sent traders into precious metals as a "safe haven" alternative investment choice.
Anytime there is a hint of more easing (printing more U.S Dollars) it should benefit the precious metals. Whenever you print more of anything it becomes "WORTH - LESS"...
More Dollars would make the U.S Dollar worth-less and therefore add appeal to gold.

Demonstrations in Iran have turned violent as pro-regime militants burdened with an increasing array of sanctions over its nuclear program and their resentment toward the
the west (primarily great Britain and the U.S)... Since Iran is an oil producing nation there are concerns that any escalation in the region will effect Oil production / prices and as a result it appears speculators are pushing Crude oil futures prices over $100 per barrel. Higher Crude oil prices are historically bullish for Gold prices.

It is my opinion that these markets will remain very volatile and trade vast ranges as long as the geo-political tensions in Iran remain high. Also as long as the European Union debt situation remains fragile global investors will remain skittish with their trading strategies. Technically there is very strong resistance up around the $1805.00 level.

MY SWING NUMBERS 12/5
FEBRUARY GOLD
RESISTANCE # 2............$1778.00
RESISTANCE # 1............$1764.00
PIVOT ........................$1753.00
SUPPORT # 1...............$1739.00
SUPPORT # 2...............$1728.00

MARCH SILVER
RESISTANCE # 2............$34.06
RESISTANCE # 1............$33.37
PIVOT ........................$32.87
SUPPORT # 1 ............$32.18
SUPPORT # 2............$31.68

Mike Daly / Gold Specialist
Research Division

PFGBEST.com
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.

There have been few investments that have gone up as far and as fast as precious metals in the last several years. Precious metals like gold and silver are getting more and more popular today because people like having money invested in a real asset rather than just paper stocks or even cash. While there are many ways to invest in gold, few of them can offer the security and tax advantages of having an offshore company own the investments. Using a Gold Bullion company like GoldMoney.com you can sign up for a new account with your offshore company in just minutes, and be ready to start investing offshore today.

When looking into investing in precious metals there are a lot of things to consider. One of the most important things you'll want to know is how safe is your investment going to be. Gold has gone up many hundred percent over the past five years and really has no sign of slowing down. With the global currency markets getting in more and more trouble every day, many savvy investors are turning to things with real, intrinsic value like gold and other precious metals. One of the best things about owning gold is that it can not be worthless. When you buy stock in a company and the company goes out of business, the stock loses all it's value. A piece of paper that is worth thousands of dollars today can be worthless tomorrow depending on the performance of the company. When you own gold, you own a physical object which has been in high demand for thousands of years.

Getting started investing offshore in precious metals really couldn't be easier. Simply sign up with an online account and start looking into what types of things you want to buy. While gold is the most popular, many people also like buying silver or other precious metals as well. Once you've made a decision and you purchase your precious metals, they are stored securely for you offshore by GoldMoney. While they secure the gold for you, it belongs to you and you can sell it at any time you wish. Keeping your investment in this offshore account allows you the safety of knowing your investments are not only diversified into precious metals but also into secure locations in other countries which can provide extra security against loss. Checking the price of gold is as easy as looking up a stock symbol and seeing how much you own is as easy as logging onto your online account.

With all the information available at your finger tips it's easy to purchase precious metals whenever you have money to invest and watch your holdings grow along with the price of gold. While most people look at gold and other precious metals as an excellent long term investment, some people also like to buy it for shorter term and that's easy too! Since all you have to do in order to buy or sell your precious metals online is click a few buttons, you can have your investments moved around quickly and easily to other precious metals or even cash out when you need the money. GoldMoney.com has made the entire process extremely user friendly and affordable so why not try it today!?

THIS WEEK GOLD COVERED A $92.10 RANGE AND SETTLES AT $1636.10 FOR THE WEEK

This week the December Gold Futures contract traded a technical $92.10 range as traders and investors tried to decipher the constant barrage of news from the European union along with the daily economic data. Without a doubt this week's markets were fueled by the fragility of the Euro region and it's seemingly ever changing news releases. It has become very apparent that the 17 Euro nations cannot unanimously agree on anything. With this weekend's Brussels summit quickly approaching all the eyes of the investment community will watching and hoping for a favorable end result. The summit will take place between the close of Wall St. and the opening of the Asian Markets. This certainly explains why "short" positions probably were liquidated and the Gold market finished the session up $23.20.

Noteworthy weekly news:

THURSDAY:

Today's December Gold Futures market covered another vast $41.80 range and finished $34.10 lower for the day session. The continued fragility and indecision in the European Union remains the fuel in pushing the precious metals lower. The constant contradictions that are flowing from the Euro region has certainly added to the lack of Investor and trader confidence in regard to the regions Financial Ministers and politicians.

I have read reports that the weekend's summit possibly would be postponed to actually holding a second summit next Wednesday. Apparently the news for now is there will a weekend summit and a second summit on Wednesday. I guess the feeling is two meetings are better than one. STAY TUNED !

HIGH-LITES FOR THIS WEEKENDS (+ WEDNESDAY) SUMMIT (S)

France/Germany say that euro zone leaders will discuss an agreement in depth on Sunday before adopting it on Wednesday at the latest.

Sarkozy and Merkel are scheduled meet on Saturday in Brussels to discuss the euro zone-Franco-German statement....(key). France and Germany want an immediate start of negotiations with private sector to find accord on Greek debt.

Moammar Ghadaffi former Libyan leader was killed today. This may have fueled lower Crude Oil prices. Since the 8 month long civil war in Libya Oil production has ceased. Libya produces about 3% of the worlds Crude Oil. Now that Ghadaffi is dead speculators may be anticipating a resumption in Crude Oil production.... Normally Gold and Crude Oil follow one another.

U.S DEPARTMENT OF LABOR REPORTED:

The weekly report on Initial Jobless Claims is 403k

MONDAY:

Today's December Gold Futures contract produced a range of $29.80 with a High of $1696.80 and a low of $1667.00 during the day session. Traders are continuing to monitor the fragility in the European Union and are trading very cautiously and choosing to take profits when the opportunity presents itself. We are hearing that the Prime Ministers of both Germany and France intend to raise the size of the Euro Zone rescue fund up to 2 trillion Euro's.

Traders and investors are buying price dips in he precious metals as many investors are looking at the purchase of Gold and Silver Bullion as a long term investment. The Asian sector is still buying physical precious metals and there are Reports that China has upped their production of Gold and are producing nearly 32 tons per month.

Lower energy prices also helped to slow gold's rally momentum today as well....

MY SWING NUMBERS FOR MONDAY 10/24

December Gold.........

Resistance # 2......................$1670.00
Resistance # 1......................$1653.00
Pivot ....................................$1633.00
Support # 1...........................$1616.00
Support # 2...........................$1596.00

Mike Daly / Gold Specialist
Research Division

PFGBEST.com
mdaly@pfgbest.com

312.563.8029
877.294.4669

GOLD SETTLES AT $1683.00 FOR THE WEEK

Gold rallied today as global traders and investors reacted to more credit rating cuts, this along with higher crude oil prices sent speculators into the precious metals as an alternative "safe haven" investment choice. It also appears that physical buying has increased from India and China which has been the underlying support. The trade in December Gold has been very technical and the trading volume has been down. Much of the trading has been in reaction to the following data released this week.

Fitch places seven global trading and universal banks on rating watch negative: By Liza Horowitz

Oct. 13 (Bloomberg) --Action affects Barclays, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs and Morgan Stanley.

• Barclays IDR on watch negative

• BNP Paribas IDR on watch negative

• Credit Suisse IDR on watch negative

• Deutsche Bank IDR on watch negative

• Goldman IDR on watch negative

• Morgan Stanley IDR on watch negative

SP taking various rating actions on five big French banks

• BNP Paribas cut to AA- from AA

• Soc Gen cut to A

• BPCE, Credit Agricole, Credit Mutuel cut to A

SP says outlook stable for those banks, but also say they see lower earnings prospects for all five

Wednesday:

Here is a passage from the FOMC Minutes : (SOUNDS LIKE Q3)

Meeting participants expressed a range of views on the potential efficacy of policy tools tied to the size and composition of the Federal Reserve's balance sheet. Many judged that these policies could provide additional monetary policy accommodation by lowering longer-term interest rates and easing financial conditions at a time when further reductions in the federal funds rate are infeasible. However, a number saw the potential effects on real economic activity as limited or only transitory, particularly in the current environment of balance sheet deleveraging, credit constraints, and household and business uncertainty about the economic outlook. 

Participants noted that a SOMA maturity extension program would not expand the Federal Reserve's balance sheet or the level of reserve balances, and that the scale of such a program was necessarily limited by the size of the Federal Reserve's holdings of shorter-term securities so that it could not be repeated to provide further stimulus.

A number of participants saw large-scale asset purchases as potentially a more potent tool that should be retained as an option in the event that further policy action to support a stronger economic recovery was warranted. Some judged that large-scale asset purchases and the resulting expansion of the Federal Reserve's balance sheet would be more likely to raise inflation and inflation expectations than to stimulate economic activity and argued that such tools should be reserved for circumstances in which the risk of deflation was elevated. 

In commenting on the implications of a maturity extension program or another large-scale asset purchase program, several participants noted that the System should avoid holding a very large proportion of the outstanding stock of longer-term Treasury securities in its portfolio because the result could be a deterioration in market functioning. A number of participants suggested directing some purchases or reinvestments into agency MBS; however, a couple of participants saw such actions as unlikely to have benefits, or as a form of credit allocation.

Monday:

German Chancellor Merkel and French President Sarkozy have pledged to recapitalize Europe's banks and will have a plan in place within three weeks. Hopefully this action will produce some stability in the European Union.

The strong demand from China and India for physical Gold has also helped rally the price of Gold. Higher Crude oil prices have also helped the rise in Gold as normally the two markets trade inversely.

MY SWING NUMBERS 10/17

RESISTANCE # 2.....................$1700.00
RESISTANCE # 1....................$1692.00
PIVOT .................................. $1677.00
SUPPORT # 1.........................$1669.00
SUPPORT # 2.........................$1654.00

Mike Daly / Gold Specialist

Research Division
PFGBEST.com

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.

This week's Gold market covered a $29.60 range while notching another All-time high as the August futures contract traded as high as $1610.70 on July 19th and as low as $1581.10 just one session later. These markets have been economic data driven and since the data that is being released apparently changes seemingly minute to minute it has been very difficult this week to decipher. This week we have learned that the situation in Greece is a long way from being over despite their receiving bailout monies from the IMF and European Union jointly.

The Euro Union's debt crisis appears to spreading and therefore adding to the fragility of the region. Here in the United States it has become a reality that U.S Legislators are going to wait until the August 2nd deadline and continue to hold world markets hostage. Also today " a bomb explode rocking downtown Oslo, Norway killing at least two and injuring several others and causing wide spread damage in Norway's government center' according to news reports. Anytime there is a n act of war or terrorist act it normally is very "bullish Gold"..as it sends investors into "safe haven " alternative investments.

Standard and Poor's reported that the ODDS of the United States having their Credit Rating LOWERED to AA were 50/50 ! After a meeting involving FOMC Chairman Ben Bernanke, Secretary of the Treasury Timothy Geithner, and New York FED Boss William Dudley today they expressed confidence that congress will raise the debt ceiling......Stay tuned....

Noteworthy Events This Week :

Thursday: Initial Jobless Claims were 418,00 more than the expected 410,000.

Wednesday: Reports from Greece

By Angela Cullen

July 19 (Bloomberg) -- German Free Democratic Party lawmaker Frank Schaeffler said Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble should make the case for a temporary exit of Greece from the euro zone, Handelsblatt reported, citing an interview. Schaeffler, criticizing the German government's handling of the Greek crisis, said Greece should be given the option of temporarily leaving monetary union as this is the only "sensible way" to make the southern European country's economy competitive again, according to the German newspaper.

The European Union is much more fragile than anyone thought!

Tuesday : President Obama indicated that the United States Lawmakers may be getting closer to raising the debt ceiling. This "Bearish" Gold news forced traders to liquidate and take profits resulting in a new daily low of $1585.20 as of this posting. The august Gold literally dropped $15 in a matter of minutes. There has been so much bad news data for the past few weeks proving that any ray of sunshine can force the Gold to retreat.

We have rallied over $132.40 (top - bottom) in 18 days

Monday : Silver, once left for dead a few months ago is regaining momentum and settled over $40,00 per ounce for the first time since May 3rd. As the September futures contract settled at $40.34.

Silver traded as high as $40.88 this week!

MY SWING NUMBERS 7/25

AUGUST GOLD

RESISTANCE # 2.....................$1621.00
RESISTANCE # 1.....................$1611.00
PIVOT.....................................$1597.00
SUPPORT # 1.........................$1587.00
SUPPORT # 2.........................$1573.00

SEPTEMBER SILVER

RESISTANCE # 2.....................$41.19
RESISTANCE # 1.....................$40.66
PIVOT.....................................$39.76
SUPPORT # 1.........................$39.22
SUPPORT # 2.........................$38.33

Mike Daly / Gold Specialist
PFG BEST
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 Hong Kong Mercantile Exchange ("HKMEx"), China's international commodity marketplace, announced Monday the launch of a US-dollar silver futures contract to begin trading on 22 July, 2011, following the successful introduction of its gold futures two months ago.

The new contract, launched on the back of surging global demand for silver, will trade in units of 1,000 troy ounces and be delivered in Hong Kong. Trading will last for 15 hours every day, Monday to Friday, beginning at 8am and ending at 11pm Hong Kong time, with a 30-minute pre-opening auction starting at 7:30am. Clearing and settlement of contracts will be conducted through the independent clearing house LCH.Clearnet.

Between 2008 and 2010, demand for silver rose 67% in China and 17% globally to reach 7,495 tons and 32,870 tons respectively, according to market data compiled by HKMEx. China alone,accounted for nearly 23% of the world's silver consumption last year, reflecting its importance as a global manufacturing powerhouse.

"The new contract will enable buyers and sellers in China to trade effectively with their counterparts across the world, while at the same time, allowing investors to gain exposure to silver price movements and broaden their investment portfolio," said HKMEx president Albert Helmig.

"We are fully aware of the vast potential of precious metals both as a hedge against inflation and as an investment diversification tool and will continue to expand our product suite in this area" added Mr Helmig.

HKMEx's first product, a 32 troy ounces gold futures contract with physical delivery in Hong Kong, traded in June a total of 48,321 contracts with a daily average volume of 2,297 contracts. Trading volume has increased in the 11 trading days in July to a daily average of 3,280 contracts.

The Exchange's current membership represents 20 of the most well established financial institutions and futures brokerages in the region and globally,including the most recently added Jinrui Futures (Hong Kong) Limited and Wing Fung Futures Limited. Contracts for the new silver futures will be for the current calendar month, the next two consecutive months and any months of January, March, May, July, September and December falling within a succeeding 12-month period.

Full real-time trading statistics on the new contract will be accessible through the Bloomberg and Thomson Reuters information services by typing IXSA CT and 0#HKS:respectively.

GoldSilver.com offers the safest, most cost effective, and secure gold vault storage and silver vault storage services in the precious metals industry.

Our strategic partnerships provide GoldSilver.com Insiders the ability to attain fully insured segregated gold and silver vault storage around the world.

With segregated vault storage the silver and gold bullion products you purchase are held solely in the beneficiary title(s) you elect. The original products you buy are always stored separately never swapped nor comingled with other accounts.

Vault storage customers receive custody certificates documenting holdings and account inventory levels. All physical vault storage holdings are a secure phone call away from door delivery or to lock in a sellback price.

1 Kilo Johnson Matthey Gold Bar

Gold traded a very robust $60.80 range this week as traders and investors tried to decipher all the week's global economic data. The past few trading sessions have resulted in an avalanche sell-off forcing the price of Gold to drop from $1559.30 to $1498.50 per ounce. The August Gold futures contract settled at $1500.90 for the week. This Gold sell-off was much needed as the market has been technically overbought and it appeared the "BULL" market was running on fumes. However. I am not ready to declare the "BULL" dead and buried. A healthy market needs to "refresh" and "correct" in order to maintain its integrity.

Technically there is support between $1460.00 and $1475.00 and Resistance at $1560.00. The following are reasons why the Gold market experienced the choppy, volatile, and vast range.

Tuesday:

The Greek Parliament which will decide whether Greece will receive more bail-out funds from the European Union and the International Monetary Fund or defaulting on their debt. The Gold rally today was fueled by a weaker U.S Dollar versus the Euro today. Most analysts are fairly certain the vote will be positive. The austerity measures are extremely stringent and have forced the citizens of Greece to demonstrate against the strict measures.

Most analyst believe that the FOMC will leave interest rates unchanged.

Thursday:

The sell-off started overnight as traders and investors heard the uncertainty from the FOMC meetings regarding the United States economy "loud and clear" it is common knowledge to seasoned traders that "markets hate uncertainty". Apparently the FOMC has backed off a bit from their view earlier this year and are not painting the same rosy picture.

The FOMC released statements as follows: "The labor Market has been weaker than anticipated"."Inflation has picked up in recent months" and the Housing sector remains depressed".

Thursday:

The sell-off was fueled early in the day session when news revealed the United States would spearhead an International effort to replace some of the Oil production lost due to the Libyan conflict. The U.S will release 60 million barrels of petroleum from its reserves according to the (IEA) International Energy Agency. This action shook the Crude Oil futures market causing the price to dip below $90.00 per barrel today...(August Crude Oil traded as low as $89.69 per barrel) more Crude Oil on the market pushes prices lower lower Crude prices are "bearish" precious metals - THIS IS THE LAW OF SUPPLY & DEMAND !!!!!

The Labor Department released the Initial Jobless Claims that were 9,000 worse than last week at 429,000.

The European Union Leaders warned Greece that there will be no further concessions, and they must pass the austerity plan as is. Once again a line drawn in the sand.

Today;

The sell-off continued as support resistance levels did not hold and triggered liquidation stop-loss and a short selling frenzy.

MY SWING NUMBERS / MONDAY 6/27

AUGUST GOLD

RESISTANCE # 2...................$1537.00
RESISTANCE # 1...................$1520.00
PIVOT...................................$1509.00
SUPPORT # 1.......................$1490.00
SUPPORT # 2.......................$1481.00

JULY SILVER

RESISTANCE # 2...................$35.80
RESISTANCE # 1...................$35.21
PIVOT...................................$34.83
SUPPORT # 1.......................$34.24
SUPPORT # 2.......................$33.86

Mike Daly / Gold Specialist
PFG BEST
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.

GPMT offers buy-and-hold traders the advantages of owning physical bullion

Precious metals prices are presently at historically high levels. The rising values of these commodities have attracted a lot of attention, which has encouraged many new traders and investors to capitalize on this uptrend. There are a number of different ways to conduct gold, silver, palladium and platinum investment these days. Most people invest in precious metals by trading commodity futures, or ETFs (exchange-traded funds), which are funds that invest in the physical commodity or its futures contracts. Others might buy stock in mining companies as an indirect way of benefiting from precious metals price movements. However, it can be tricky and time-consuming to learn how to trade silver, gold or other metals.

The old-fashioned form of precious metals trading, i.e. buying and selling physical bullion, has long been overtaken by these modern methods. However, it is coming back into vogue now, with more and more individuals and corporations seeing the advantages of owning a tangible asset that also has an intrinsic value, rather than one that essentially comes down to a piece of paper.

In today's uncertain world, some investors are becoming concerned that the banks and other institutions that issue, or act as counterparties to, financial instruments such as futures and ETFs could default on their obligations if metals prices drop drastically. This is because futures are typically only fractionally backed by physical assets. This would render the paper contracts worthless. A mining company can go bankrupt too, leaving investors in the lurch. In contrast, anyone who owns bars or coins of precious metals would still hold an asset they could sell.

When someone conducts, for example, online gold trading to buy or sell physical gold at a firm like Global Precious Metals Trading (GPMT), they also take on less risk as this type of trading uses much lower leverage than futures or ETFs. Of course it does mean that any gains are less spectacular too. All in all, physical bullion can be highly suitable as a relatively low-risk addition to any medium or long term investment portfolio.

More information about trading and investing in physical precious metals can be found at GPMT.com or by calling (305) 569-0044.

About Global Precious Metals Trading

The goal of Global Precious Metals Trading (GPMT) is to provide an efficient, convenient and professional service for individuals and corporations who are looking to trade gold, silver, platinum and palladium, and to accumulate these precious metals as an investment. GPMT offers the unique opportunity of online precious metals trading at the best price, with the empowerment and potential that have not been previously available.

Global Precious Metals Trading can be reached at (305) 569-0044, or on the web at GPMT.com.

This week the Gold trade covered a $28.80 range as the market continues to reflect the global economic data. This week's data was certainly more U.S Dollar bullish and therefore forced the Gold bugs to reexamine long positions as the news from the European Union lent much needed strength to the U.S Dollar.

FINANCE NEWS FROM THE EURO REGION:

*Greek Default Swaps Rise 45.5 Basis Points to record 1,567.5
*Belgium Credit-Default Swaps rise 8 Basis Points to 153
*France Credit-Default Swaps Rise 5 Basis Points to 76
*Spain Credit-Default Swaps Rise 14 Basis Points to 275
*Italy Credit-Default Swaps Rise 9 Basis Points to 174
*Ireland Default-Swaps Rise 20 Basis Points to Record 710
*Portugal Default-Swaps Rise 11 Basis Points to Record 730

S&P said that France needs further reforms in order to keep its AAA rating in the long term...FIRST we have about France!

This week's highlights

Thursday: 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 housing recovery would be "drawn out recovery" and 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.

Wednesday: During yesterday's speech Chairman Bernanke stated that there would not be Quantitative Easing 3... This certainly was "bearish" for the precious metals. Less money printed means more value for the Dollar. I am not totally convinced that we have seen the last of Quantitative Easing but according to Mr. Bernanke it will not be continued when QE2 expires.

Traders and Investors alike will continue to use daily economic data to base their trading strategies we are now entering the summer markets and traders know that possibilities of range bound and sideways markets are in their future, at least historically.

MY SWING NUMBERS 6/13

AUGUST GOLD

RESISTANCE # 2............$1554.00
RESISTANCE # 1............$1541.00
PIVOT............................$1534.00
SUPPORT # 1............ ...$1521.00
SUPPORT # 2............ ...$1514.00

AUGUST SILVER

RESISTANCE # 2............$38.47
RESISTANCE # 1...... .....$37.46
PIVOT............................$36.79
SUPPORT # 1................$35.71
SUPPORT # 2..............$35.11

Mike Daly / GOLD SPECIALIST

PFG BEST
mdaly@pfgbest.com

312-563-8029
877-294-4669

Unbelievable! This week has been one most volatile trading periods this long time Gold bug has ever witnessed. It was truly amazing and reminder to all traders to bank profits when the opportunity presents itself...You will never go broke taking profits....

This week we traded unbelievable ranges in Gold, Silver, as well as the Crude Oil. JUNE GOLD this week traded a High of $1577.40 and a Low of $1462.50 for a range of $114.90 and SETTLED at $1491.60

JULY SILVER traded a High $48.19 and a Low of $33.03.5 for a range of $15.15.5 - UNBELIEVABLE! and SETTLED at $35.28.7

JUNE CRUDE OIL trade a High of $114.863 per barrel and a Low of $94.63 for a range of $20.20 and SETTLED at $98.06

These precious metals have been so technically overbought and that any bit of Dollar friendly news could tank these markets as these top heavy markets increase volatility tremendously often causing an avalanche sell-off scenario, sort of a domino effect. However, since the middle of January 2010 and the Egyptian revolution the price of Crude Oil has sky rocketed and heightened the globes inflationary concerns. The speculators of the world have seen it fit to sell the Crude Oil and precious metals positions after the death of Osama Bin Laden and the strengthening of the U.S Dollar.

The Central Bank of India also may have contributed to this latest slide after they raised their Interest Rates a surprising .50 basis point. Normally when Central banks raise rates it should effect the precious metals in a negative manner however, this was not the case when the ECB and China raised rates a few weeks past.

The HIGHER margin requirements installed by the CME are also contributing to the mammoth Silver sell-off. I expect the Energy and precious metal markets to remain VERY volatile and susceptible to geo-political and economic data.

Germany's Der Spiegel Magazine reported that Greece is considering leaving the European Union, it was reported that Athens was considering a new currency. The EURO zone financial ministers have refused to comment. Let's remember that in the middle of January prior to the ouster of Hosni Mubarak from Egypt we Gold bugs were concerned whether Gold would hold the $1300.00. This was 4 months ago. These markets are going to remain very volatile. These markets are not for the faint of heart!

MY SWING NUMBERS FOR 5/9

JUNE GOLD

RESISTANCE # 2............$1514.00
RESISTANCE # 1............$1503.00
PIVOT ..........................$1487.00
SUPPORT # 1................$1475.00
SUPPORT # 2................$1460.00

JULY SILVER

RESISTANCE # 2.............$38.31
RESISTANCE # 1.............$36.79
PIVOT.............................$34.91
SUPPORT # 1.................$33.40
SUPPORT # 2.................$31.51

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.