Today's Unemployment was actually better than expected. The U.S unemployment remained unchanged at 9.7 %. Analyst insist this is strong evidence the labor market is moving in a positive direction.
It has been reported that The Bank of Japan will consider LOWERING short term rates during the upcoming two day meeting beginning March 16th. Considering the Chinese recently raised interest rates a full basis point this scenario was Gold "bullish".
Reports from the European Union indicate "tension" between Greece and Germany as the German a are not in total agreement with the type or amount of financial assistance Greece is entitled to. The feeling appears to to be that Greece can take further and stricter measures to help themselves.
Also...coming soon...Indonesia's State Pawnshops have plans to start selling Gold bars on installment plans in April. They will offer amounts as low as 1 gram and offer a storage facility to safely store their Gold. This will allow anyone who can afford a down payment to own Gold.
My Swing Numbers FOR 3/8 April Gold....
RESISTANCE # 2.........$1148.00
RESISTANCE # 1.........$1140.00
PIVOT........................$1134.00
SUPPORT # 1..............$1127.00
SUPPORT # 2..............$1120.00
Mike Daly is a gold specialist for PFG BEST: mdaly@pfgbest.com.
