Well, as we take a look, the gold market is holding steady here. It had a nice rally today. The market's very concerned—that's the U.S. first allowed its time seeing, but we'll talk about that in the financial update.
Right now, in gold so far, I think you'd agree the market has held that challenge on a weekly basis of hitting the 18-week average zone of $2585. For the week, you're up 3.19%—that's a good gain at this point going into the trade. When we take a look at the gold market, we've come up, but I think you're going to hit resistance on this rally.
What you've got is a market with lower highs and lower lows. You'd have to take out the high up here, which—let's just say it's in the 27-and-a-quarter zone—but you'd have to take that out. Unfortunately, the 18-day average comes in well ahead of that at $2675. So if the market gets there, that is the number I'm looking for resistance to show up at.
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Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
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Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
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