Recent Report:
Daily Report: 15 hours 13 min ago
Gold is still attempting a recovery from the dramatic price drop on Monday when a single sell order of 1.8 million ounces rattled the markets. Trading fractionally higher over the last two days, gold prices have slowly moved up from the intraday lows of $1236.00 achieved during that single sell order placed at the opening of trading in London on Monday morning. Given the more hawkish tone of the Federal Reserve during this month’s FOMC meeting, and the more hawkish tone by Mario Draghi of the European Central Bank yesterday, gold prices have had to overcome market sentiment looking for higher... 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 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
The U.S. dollar sold off sharply today, specifically against the euro. Losing well over a full percentage point, the dollar index is currently trading at 96.06 (-1.09%). Dollar weakness occurred as a combination of bullish sentiment towards the euro, the postponement of a health care bill vote, and statements made by Federal Reserve Chairwoman Janet Yellen in London. In an interview to MarketWatch, Alfonso Esparza, senior currency strategist at OANDA said, “The failure to pass the bill with enough support in the Senate suggests that the Trump administration is losing political capital that is needed... Read more
Hawaii offers a unique time zone to monitor the markets globally. Gold, for example, trades 24 hours a day and closes for the weekend on Friday at 5 o’clock in New York, which corresponds to noon in Honolulu. Trading resumes Monday morning in Australia. This corresponds to noon in Honolulu, Hawaii. From there trading moves into Hong Kong, and by 10 o’clock in the evening, one can watch the opening action in London when their opening bell rings at 9 AM. Typically, unless a major event has occurred between the closing New York and the opening in Australia on Monday, gold prices will trade in a... Read more
For the first time in three weeks, gold prices have stabilized. Although gold closed slightly higher, in essence, flat for the week, this occurrence marks the first time in the last three weeks that gold prices have not closed lower on the week. Gold had been losing value ever since traders were unable to move the price above $1300 per ounce. Gold futures (August 2017 contract) gained approximately $7.50 today. As of 330 EDT, gold is trading at $1256.90, a gain of +0.60%. This marks the third consecutive trading day in which gold prices have closed higher. But most noteworthy was the intra-week low... Read more
Gold futures have settled with moderate gains on the day. The most active August contract closed at $1250.90, up approximately $5.10. This gain occurs immediately following two trading days in which the lows have been at the 200-day moving average, and their respective closing prices were below the 61.8% retracement. As such, the last four days, as seen through the eyes of Japanese candlesticks, can be identified by two distinct candlestick patterns. Both patterns indicate support and a potential bottom concluding the recent price decline. The first pattern is simply called “tweezer bottoms” and... Read more