Daly Gold Report 2/8 revised
Monday, February 08, 2010
by Mike Daly of PFGBest
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Gold Trades $13.40 Higher Today…. ($1066.20) Once again the U.S dollars strength has prevented the Gold market from maintaining any momentum. The Dollar strength is due more to the continued budget crisis spreading throughout the European Union. This global crisis started with Dubai inability to repay loans that has directly affected Greece, Spain, Portugal, and Ireland and certainly affected the Euro and the European Equity markets. Since there is an inverse trading relationship between the Euro and the Dollar a weak Euro has been fueling the Dollar rally. A strong Dollar pressures the Gold as the Gold and Dollar retain (for the most part) an inverse relationship…. REPORTS: 2/9 Wholesale Trade ….7:30…am (CST)….. My swing numbers 2/9…April Gold RESISTANCE # 2……$1080.00 RESISTANCE # 1……$1072.00 PIVOT………. ………$1067.00 SUPPORT # 1………. $1060.00 SUPPORT # 2………..$1054.00 Mike Daly / Gold Specialist PFG BEST mdaly@pfgbest.com 877-294-4669 312-775-3014 312-563-8029 *There is extreme risk trading futures,options, and forex*  
Recent articles from this author
- Daly Gold Report 3/12 - Friday, March 12, 2010
- Weekly Gold Report 3/11 - Friday, March 12, 2010
- WEEKLY NMETALS REPORT 3/11 - Thursday, March 11, 2010
- Daly Gold Reprt 3/11 - Thursday, March 11, 2010
- Daly Gold Report 3/10 - Wednesday, March 10, 2010
About the author
Mike Daly joined PFGBEST Research in 2009 with more than 25 years of experience as a gold trader and market specialist. He was a floor trader at the Chicago Mercantile Exchange, Chicago Board of Trade and Chicago Board Options Exchange for the first two decades. He joined the renowned gold brokerage J. Aron in 1979 and served as a senior gold broker and market analyst for four years, and then continued another two years there after J. Aron was acquired by Goldman Sachs in 1982. He was charged with keeping vast spread markets in line and was a global gold market maker for the firm. From there he continued as a licensed independent broker on the CME floor in the S&P 500 stock index futures trading pit while also monitoring and trading gold markets. He joined Alaron Trading Corp. in 2007 as a senior broker then came on board PFGBEST through the acquisition of the customer assets of Alaron in spring of 2009. Mike is regularly quoted in broadcast and print media venues and is widely available to share his precious metals and trading background, knowledge and experience as an interview source, educator and spokesperson. Mike Daly
Sr. Precious Metals Analyst
PFGBEST Research Phone: 877.294.4669 or 312-563-8029
Email: mdaly@pfgbest.com PFGBEST is among the largest non-clearing U.S. Futures Commission Merchants, with customers, affiliates and brokerage offices in more than 80 countries. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, market research, and direct online futures trading through its BESTDirect® platform, and numerous other platforms and applications.
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