Recent Report:
Weekly Report: 1 day 16 hours ago
Although gold is trading lower on the week, Friday’s trading activity resulted in moderately higher pricing with gold closing up seven dollars. August Comex futures are currently fixed at $1,231 after adding today’s net gain of 0.57%. However, the real story today is not so much gold as it is the U.S. dollar. The dollar index is currently down by almost 0.80%, which is a 75-point drop, taking the dollar index to 94.19. The gains in gold futures today were all due to dollar weakness. We can certainly see that in the spot market. As of 4:15 PM Eastern standard time physical gold closed up $8.... Read more
Trading System
The system that we use for trade recommendations is a hybrid method in which we combine fundamental data with three primary technical studies.
We look at fundamental data for the "big" picture, which we weave into our technical studies. These studies will help identify key pivot points. They will also provide us with the timing for entrance and exits of trades, as well as stop placements.
The three technical methods we combine are Japanese Candlesticks, Elliot wave theory and Fibonacci retracement.
The Bitcoin Report is now LIVE!
Due to high demand from our subscribers, we added Bitcoin to our Daily Report. Our Members will now receive daily commentary and trade recommendations for Bitcoin futures.
Bitcoin is the first cryptocurrency to trade on the CBOE and CME, allowing you to profit from long and short positions. Bitcoin has had amazing volatile price swings, creating major trading opportunities. Due to its revolutionary blockchain technology and finite supply it could become the major player maintaining it's dominant position as thee 'cryptocurrency'.
The Gold Forecast
The Gold Forecast was created for investors and traders of all levels. Each day we publish a five to ten minute video containing concise, easily-digestible visual and verbal information, conveying precision technical market insights. All blended with the day’s most important fundamental news.
Trending Markets
Trending markets is an ancillary module for use with your Gold Forecast subscription.
It covers additional markets such as the S&P 500, US dollar and crude oil. The primary purpose for this service is to provide us with quality markets to trade when the precious metals markets are range bound, or when these markets present trading opportunities.
Endorsements of Confidence
Gary is one of the most skilled technicians I have met during my time covering the markets. Dedicated, reputable and skilled…
Daniela Cambone
Editor-in-Chief, Kitco News
About The Gold Forecast
Wagner Financial Group is the producer of the Gold Forecast.
Based in Honolulu, Hawaii, our company is comprised of a dedicated group of trading, technology, and finance professionals who apply their experience, teamwork and innovation towards a common goal - helping traders succeed.
Previous Reports
Gold has been under major pressure and losing value since April of this year when the precious yellow metal traded to the highest value this year and began to sell off. Since that time, you could say that gold prices have been free falling. Since January of this year, gold has attempted to breach the highs achieved in September 2017 unsuccessfully on three occasions. However, during this last selloff, the decline in gold prices have been more than 10%, which puts this current market decline officially in a correction. The correction has taken prices from a high of $1,370 to today’s intraday low... Read more
Although gold futures are trading slightly higher, today’s trading activity is highlighted by the fact that gold traded to a lower low and a lower high than yesterday. Currently, gold futures (August Comex contract) are trading at $1,227.80, which is a net gain of $0.50 on the day. It is the intraday low that is most noteworthy. Traders took the precious yellow metal to $1,220.90, a new low for the year and a price point that traders have not seen since July 2017. Today’s selling pressure was once again dominated by dollar strength. In fact, it was earlier dollar strength which pressured gold... Read more
Gold broke below its major support level at $1,238 today in reaction to the Federal Reserve Chairman Jerome Powell’s testimony to the Senate Banking Committee. Gold futures (August Comex contract) closed dramatically lower settling at $1,227.50, losing $12.20, a net decline of almost a full percentage point. Spot gold pricing lost $12.20 by 4:00 PM Eastern standard time and is currently fixed at $1,228 per ounce. On closer inspection, that decline can be broken into equal parts of dollar strength and selling pressure. According to the Kitco Gold Index (KGX), a strengthening U.S. dollar accounted for... Read more
U.S dollar weakness has not helped gold close in the positive today. Traders took the dollar index lower today, resulting in a net decline of just over a quarter percent. The dollar is currently fixed at 94.24, which is a decline of 25 points on the day. The net result of dollar weakness was an additional $2.85 of value per ounce of physical gold, as reported by the Kitco Gold Index (KGX). However, traders bid the precious yellow metal lower by $3.65, resulting in a decline today of $0.80. Spot gold is currently fixed at $1,240.40. While on a technical basis it does appear that the dollar faced... Read more