Precious Metals Market Comments

Gold Settles $1.10 Lower ... ($1627.00)

Today's August Gold futures trading session covered a choppy and volatile $24.40 range.

Greece avoided exiting the Euro currency zone as the Greek citizens elected political parties who favored an international bailout deal however, the region's debt crisis remains prevalent.

Apparently the newly elected Greek government is seeking to renegotiate Greece's current austerity measures but, Germany's Chancellor Angela Merkel has again ruled out any negotiating and insisting that the present set of agreements made with International lenders must be honored. Today's Gold trade had a seesaw range trading as high as $1631.30 and as low as $1606.90. it is my belief that traders are remaining tentative as they wait to hear news from the FOMC's Tuesday - Wednesday meeting this week.......Stimulus ? or No Stimulus ?

ECONOMIC DATA: 6/19

Housing Starts & Permits..................7:30 am. cst.

FOMC MEETING DAY #1..................................

Follow us   Follow @IBTimesUK

MY SWING NUMBERS 6/18

August Gold

RESISTANCE # 2............. $1646.00

RESISTANCE # 1............. $1637.00

PIVOT........................... .$1622.00

SUPPORT # 1...................$1612.00

SUPPORT # 2...................$1598.00

VOLUME.........................130,000

July Silver

RESISTANCE # 2.................$29.42

RESISTANCE.#1................. $29.04

PIVOT................................$28.64

SUPPORT # 1..................... $28.27

SUPPORT # 2......................$27.86

VOLUME............................30,000

PFGBEST Research Division

mdaly@pfgbest.com

877-294-4669

312-775-3014

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.