Dave Meger Quotations

We look for near-term resistance at the psychological area just above $550 and more importantly around $554.

Everybody seems to be talking about the strength in the dollar. That gave an impetus for some profit-taking in the gold today.

We opened the day stronger and continued a little higher, and then as a slight surprise to some, ended up holding the positive tone throughout the day - whereas sometimes on days like this in the past you've given up the bulk of those gains. Silver, specifically, closed relatively close to the highs.

It was a combination of long liquidation and fund selling. We do see rising copper stocks and that is some of the impetus behind the recent pressure.

We did have a decent-size range and saw a continuation of yesterday's bounce off $555 and test of resistance up to $570.

We had three girls under 100. That was our goal. We had two under 100 last week and will look for four under 100 in our next tournament. I was real pleased with our performance.

We see the writing on the wall of some changes that could be taking place in the copper market. However, at this point, we're not necessarily at a point where we can call for that yet.

As London came back from a holiday, the dollar was down and oil was up. You saw buying return to the physical market, and that's why we entered the day higher. After we saw the dollar down and oil firming, that drew some further fund buying.

All of these factors are drawing in fund buying.

We had some early fund buying this morning. And we had some midday trade buying.