***Brietling's note and gold all time high.

[easyrider]

Hello All,

I want to point out a few observations on our investment. We are getting very close to seeing our investment draw to a conclusion in my opinion. I have been focused on June of this year since last August.

We are now seeing the Kuwait files being settled, and are just waiting for payments.

The Erbil Agreement is coming to reality. You all must understand the Erbil agreement is a list of many things that need to be taken care of. It was set up by Barzani to get past the election holdup. Two of the main Iraq political blocks and the Northern Kurds drafted what is now called the Erbil agreement. All sides have needs and demands that were agreed to within that document. One of the most important parts was the dispersion of funds from Iraq oil sales to the Northern Kurds. Just a few weeks ago we saw the first 230 million payment.

So we are moving at light speed. From June 1st to June 30th be on the look out...

Iraq should be International on the WTO (World Trade Organization) list.

Security Ministry seats should be voted on during this period of time.

Pre DFI expiration maneuvering will be evident.

Remember, we don't want comments coming from the political blocs unless they point to an event or meeting coming up. We want policy that they have passed only.

Warmest Regards,

Breitling

Gold: New All-Time High Against Euro

ForexPros.com / Fillipo Finocchi

1.080 €/oz

Gold has found a good support at 1,487 $/oz after a strong sell-off phase occurred two weeks ago. In fact, the Yellow Metal held out to the downward pressure and rebounded above the psychological threshold of 1,500 $/oz.

The Market Driver of the week was undoubtedly the strengthening of the U.S. Dollar, which has come back under 1.40 on the Cross Eur/Usd. The great weakness of the Euro currency is probably due to the strong pressure on some countries of the Old Continent; in fact, two important macroeconomic news strongly weakened the Euro last week: the downgrade of debt ratings of Greece from B+ to BB+ by Fitch and the unexpected change of outlook for Italy from stable to negative by Standard & Poor's. Accordingly, the Euro weakened, losing ground against the Greenback. The result has been the reaching of the all-time high of Gold against Euro, 1080.23 €/oz. Unfortunately, the forecast for the Cross seems to be negative, as Greece's concerns appear larger and more complicated to solve than expected and rumors about a possible exclusion of the Hellenic country from Eurozone begins to rumble on the market. The risk involved in that case is the "domino effect" that may lead to a real structural crisis of the European Union. Macroeconomic news are expected for the week: U.S. Jobless Claims (05/26), U.S. Core PCE (05/27) and Michigan Confidence (05/27).

From the financial point of view, after some days of sales, Gold ETFs have strongly increased the amount of physical Gold held, reaching 2,062 Tons. With regard to the financial positions at COTR, at the contrary, we can appreciate a further decrease in Net Long Positions, fell to 23.9 Mln, the - 7.8%.

From a technical point of view, Gold is fluctuating around the psychological threshold of 1,500 $/oz, without showing trend signals. The 1,487 $/oz level has provided a firm support to the bullish trend, which in the long run remains intact. In the short term, however, it is possible that the Metal can fluctuate into the side channel between 1,518 $/oz and 1,487 $/oz. It will be important to see the breaking of one of these two levels to understand the new direction of the market.

First support at 1,500 $/oz and first resistance at 1,506 $/oz.

[design interrupted]

Great job, Easy. Plus 1. Thanks for all you do and your upbeat attitude day after day. It's refreshing!

[DinarThug]

Thx for the Post Easy.

The 1st paragraph is very positive with the Iraq updates. Hopefully we're in a 30 Day window !

[Fearless Four]

Great post, thanks again!