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Daly Gold Report 3/15
Monday, March 15, 2010
by Mike Daly of PFGBest
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Gold Settles $3.70 Higher… ($1105.40) Today’s Gold trade was sluggish in anticipation of tomorrows FOMC meeting. Despite concerns that China is considering further rate cuts the Gold market has shown great resiliency around the $1100 level. Much of the support has come from India’s Jewelers as they have been heavy buyers In preparation for the upcoming Akshaya Tritiya festival. This is a festival auspicious for the buying of Gold and will be celebrated on May 16th. There are rumors that Europe’s vast Gold reserves could be used to fiscally back troubled Euro nations. The European Union has agreed to a multi-billion Euro bail-out for Greece. However there are other Euro states also seeking financial aid. Reports: FOMC MEETING…………. Housing Starts & Permits……..7:30 am (CST) SWING NUMBERS 3/15 APRIL GOLD RESISTANCE # 2…………..$1113.00 RESISTANCE # 1…………..$1109.00 PIVOT………………………..$1105.00 SUPPORT # 1………………$1101.00 SUPPORT # 2………………$1097.00 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*  
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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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