Recent Report:
Daily Report: 5 hours 51 min ago
After trading to above $1300 (an intraday high of $1306), resulting in gold prices reaching a three-month high, a strong U.S. dollar today has caused the precious yellow metal to trade lower on the day. It seems $1300 an ounce is a tough price point for gold to trade and close above. I am still of the belief that it is a matter of when, not if, when it comes to the question of whether gold prices will effectively breach the $1300 ceiling and close above it. Obviously, though, that will not occur in today’s trading session. As of 3:30 EDT, spot gold is currently trading off $5.90 on the day.... 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
Gold prices continue to rise this week, trading to an intraday high of $1299.70. As of 3:30 EDT, gold futures are trading up $5.40 at $1297. The net gains of gold in 2017 are now residing at around 11%. Many analysts believe a break above 1300 will be significant and signal a further rise in the precious yellow metal. Higher gold prices today were the direct result of a combination of a weaker U.S. dollar and traders bidding up the precious yellow metal. Spot gold is currently trading up $6.60 on the day, currently fixed at $1290.80. According to the Kitco Gold Index (KGX), a weak U.S. dollar is... Read more
Since the presidential election and victory by Donald Trump, the U.S. equities markets have been on a rampage. This has resulted in setting forth one of the most dynamic rallies in American history. Soaring to new record values and all-time highs, this most recent equities rally has been predicated on the belief that this new administration would be transformational. Transformational by implementing a significant tax cut. Transformational by initiating massive infrastructure projects to rebuild our roads and bridges. Transformational by executing these pledges and new initiatives to revitalize... Read more
Investors and market participants continue to digest and parse key events from yesterday. Political turmoil, along with the release of last month’s FOMC minutes, has caused major repercussions across a wide swath of financial markets. These repercussions are sending strong ripples throughout the U.S. equities markets, resulting in a triple digit decline in the Dow Jones Industrial Average and a 1.3% decline in the NASDAQ composite. In tandem is a flight to safe haven assets, such as gold and silver, and continued downside pressure in the U.S. dollar. Minutes from last month’s FOMC meeting... Read more
This morning the Federal Reserve released the minutes from last month’s FOMC meeting. The minutes contained statements by Fed members indicating a more dovish stance regarding the next interest rate hike as well as the initiation of their balance sheet liquidation timeline. Foremost in the minds of Fed members was the unexpectedly low inflation rate, which continues to track well below their 2% target. As such, the probability of an interest rate hike this year has been significantly reduced, at least in the minds of market participants and analysts. As far as raising interest rates are concerned:... Read more