Recent Report:
Weekly Report: 2 days 1 hour ago
Make no mistake about it; this was a terrible week for those wishing to see gold prices move higher. In fact, gold prices lost almost 3% on the week - one of the most significant weekly drops in over a year. However, the last two trading days have provided an indication that gold pricing might, in fact, be finding some price support. Our technical studies have indicated that $1,178 is a critical price point for gold futures. This price point is a 0.78% Fibonacci retracement from an extremely long data set. This dataset looks at price action from December 2016 up to current pricing. Above this... 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 a hit a “critical” area of $1,178 an ounce due to technical factors, said Gary Wagner, editor of TheGoldForecast.com. “If it breaks below that, I think it will go to $1,124, and if it holds in this area, our next resistance point is going to be back at $1,200,” Wagner told Kitco News. Wagner noted that gold is not yet at a bottom and its direction from this current critical level is mainly dependent on the strength of the dollar. Importantly, gold’s relationship to the dollar is most sensitive on the yellow metal’s downside. “If the dollar begins to weaken, we will see gold recover,... Read more
Gold continues to trade lower, effectively trading and closing at the lowest price point this year. In trading overseas, last night gold futures hit a low of $1,167.10 before recovering. As of 3:30 PM Eastern standard time, December Comex futures are currently trading off by $4.20 and fixed at $1,180.80. Although the dollar index is trading slightly lower on the day, there is an undeniable pressure created today from incredibly strong U.S. equities market. With about half an hour left in trading today, the Dow Jones Industrial Average has scored gains of approximately 427 points and is currently... Read more
Gold prices declined dramatically today with December futures trading to a low of $1,180. As of 4:30 PM Eastern standard time, gold futures have come off of the lows and are trading at $1,182.30, which is a net decline of $18.40. The selling began with dollar strength moving the precious yellow metal lower. At its high, the dollar index traded to 96.87. However, as the dollar moved off of its highs and traded unchanged, gold remained under pressure and ultimately lost more ground. Currently, the dollar index is trading at 96.54. It seems that the current economic crisis in Turkey has affected... Read more
After yesterday’s dynamic price drop, the real question is will gold go lower or will it rally from here? The possible answers are entirely different when you look at the technical data and when you then look at the fundamental events behind the selloff in gold. On a technical basis, gold is over-sold. This week gold broke below the 0.618% retracement as it traded through and below $1,218 per ounce. This retracement began after the third attempt to take out the former highs in gold at $1,370. The last major rally occurred at the end of 2016 when gold gained roughly $246 as it traded from $1,124... Read more