Gold futures settled slightly lower on Thursday, pulling back after a two session climb, Prices, however,
held above key moving averages at or near the $1,300 level as traders continued to watch
developments in Ukraine and the prospects for safe-haven demand for the metal. Today’s choppy
trade followed Monday’s price action which saw Gold close at $1,309.30 the highest close since April
14. It is my view that without the Uranian/Russia crisis, that prices would be significantly lower. Last
week saw significant out flows from the world’s largest ETF in the amount of 10 tons while physical
demand is soft in the Asian sector due to Japan, South Korea, and Hong Kong absent for public
holidays. Weak action in the Stock Indices along with a weakening U.S. dollar aided Gold from falling
today. Note, keep in mind that Fed Chairman Janet Yellen speaks tomorrow in front of Congress and
that market participants will want to wait until the Fed Governor speaks before there is a more
directional move in Gold. In the interim, the crisis in Eastern Europe if it accelerates into war will trump
anything else technically and fundamentally initially. My weekly numbers for June Gold and July Silver
come in as follows for the remainder of the week. For June Gold, support comes in at 1281.0, and
below there at 1259.2. Resistance is up at 1315.6 and above there at 1328.4. For July Silver support sits
at 18.88 and below there at 18.23. Resistance is up at 19.98 and above there at 20.43.

Daily Swing #s GCM14 May 6, 2014
Resistance#2- 1319.0
Resistance#1- 1313.8
Pivot- 1309.1
Support#1- 1303.9
Support#2- 1299.2

• Wall Street all in on further gains for gold, Main Street grows more bullish for next week’s price action   (2024-10-19 10:12:59)
• Gold shines as ultimate safe-haven asset, set to hit $3,000/oz by 2025 – Bank of America   (2024-10-19 10:07:32)
• Gold and silver to rally through the end of 2024, copper likely to lag – Prosper’s Scott Bauer   (2024-08-15 06:23:01)
• Wall Street experts see gold gaining on renewed recession fears, Main Street bullishness not far behind   (2024-08-04 16:15:53)
• Phố Wall chứng kiến ​​đà tăng giá vàng mới vào tuần tới, tâm lý lạc quan của Phố Main tăng lên   (2024-07-27 17:29:24)
• Wall Street sees renewed momentum for gold prices next week, Main Street’s bullish sentiment increases   (2024-07-27 17:26:59)
• Wall Street is balanced and cautious on gold next week, Main Street remains optimistic about price gains   (2024-07-20 08:49:41)
• September rate cut and Trump policies are boosting gold demand – FX Empire’s Ali   (2024-07-19 05:12:10)
• Gold price will average $2,500 per ounce in Q4 2024 as bull case remains intact despite sharp gains – JPMorgan   (2024-07-18 11:18:51)
• Wall Street sees green lights for gold next week; Main Street jumps back on the bullish bandwagon   (2024-07-06 04:25:55)