Recent Report:
Daily Report: 19 hours 27 min ago
Any hope for potential support and subsequent reversal in gold was short-lived as a strengthening U.S. dollar and a predominantly bearish sentiment took prices lower today. Gold futures are currently trading off by nine dollars to be fixed at $1,324 per ounce, a net decline of -0.67%. Except for palladium, precious metals are trading lower today across the board. Physical palladium is trading unchanged on the day. A decline of $4.30 due to a strengthening U.S. dollar was compensated entirely by buyers bidding up palladium by that exact amount. Gold, silver, and platinum were lower today. Platinum... Read more
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'.
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 yield on the 10-year Treasury notes climbed to 3% today, the first occurrence of a 3% rate since back in 2014. On an individual economic level, borrowing costs will increase for loans on mortgages, automobiles, and consumer credit. On a corporate level, it will increase the cost of doing business. Collectively, these increased costs will dampen the pace at which the economy is growing. The repercussions of higher interest rates for this benchmark Treasury note were felt throughout multiple markets across a broad swath of financial asset classes. Market sentiment quickly reacted to higher... Read more
The precious metals complex has traded under pressure today with U.S. dollar strength contributing the most significant percentage of today’s decline. Gold, silver and palladium’s price decline resulted in major chart damage for all three precious metals. They all sustained a combination of selling pressure and dollar strength which took current pricing of gold and palladium below their 50-day moving averages, and silver below it's 200-day moving average. As of 4:00 PM Eastern standard time, gold futures (June 2018 Comex contract) are currently fixed at $1,326.30, which is a $12 decline (-0.90... Read more
My subscribers and readers of my daily column know that I have an intrinsic bias towards gold. This bias is in relationship to the finite quantity of gold when compared to fiat currencies. Gold and silver were utilized as some of the earliest forms of currencies. The earliest types of government currencies were minted coins made of gold and silver. More importantly, the value of those coins was based solely on the value of the metal within. That meant that the country with the most gold had the most wealth. By the mid-1800s most countries sought to standardize trade transactions. To that end,... Read more
Gold is trading unchanged on the day, but only until you factor in dollar strength. As of 3:15 PM Eastern standard time, physical gold is currently trading off by $4.30 and is fixed at $1,344.90. However, the KGX (Kitco Gold Index) reveals that dollar strength accounts for all of today’s $4.30 decline. Market participants have not affected current pricing with regular trading resulting in precisely zero gains and losses. Gold futures are currently trading at $1,347.70 for a decline of $5.90 (-0.44%). Since Monday of this week, gold has traded in a narrow and tightly defined range with very little... Read more