Recent Report:
Weekly Report: 1 day 15 hours ago
Although gold closed modestly higher on the day, the precious yellow metal scored its second consecutive week of lower pricing. Gold futures opened on Monday at $1,281 per ounce and traded to a high of $1,286. However, it was the weekly low of $1,263 that fostered the most profound concern. When considering that gold opened just above $1,300 per ounce at the beginning of the year, the last two weeks have resulted in gold trading to the lowest price of 2018. The two critical factors which have placed the most considerable amount of selling pressure have been a strong U.S. dollar and the Federal... 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.
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Gary is one of the most skilled technicians I have met during my time covering the markets. Dedicated, reputable and skilled…
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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
Now for the fifth trading day in a row, we have seen gold trade and close lower on the day. It began with Friday's dramatic plunge when gold opened at $1,305 and closed $26 lower at $1,279. From that point forward, each day gold closed below the prior low creating a new all-time low for 2018. This trend has continued for the last five consecutive trading days and, based upon the fundamentals behind the current selloff, could continue. Since April 10, when gold reached the current price apex at $1,370 per ounce, gold is traded under pressure and losing value. The clear majority of gold's spiral... Read more
A combination of an active U.S. equities markets, coupled with a firm dollar, has kept gold pricing under pressure. Today the NASDAQ index has traded to a new all-time high. As the trading day comes to close, the tech-heavy index is currently up about ¾% and trading at 7,780.92. The Russell 2000 index, composed mostly of small-cap stocks, is also showing moderate gains today of approximately ¾%. In fact, except for the Dow, all of the major indexes are higher. As reported by Reuters, "The Nasdaq touched a record on Wednesday, lifted by a climb in large-cap tech and consumer discretionary names,... Read more
Gold is genuinely acting differently than other precious metals, as well as the commodity sector, although at first glance it's challenging to see. It is dollar strength that has been the predominant factor regulating and tapering any real upside moves in gold which continues to trade lower, now at its lowest price point this year. As reported by MarketWatch, Lukman Otunuga, research analyst at FXTM said, "The driver behind gold’s depreciation remains an appreciating U.S. dollar. With the dollar likely to find ample support amongst the bullish sentiment towards the U.S. economy and heightened... Read more
There is no doubt that gold traders and investors are still pondering the reasons for Friday's dramatic $25 decline. In fact, gold's pricing through the end of last week contained several interesting nuances that are typically not seen. On Thursday of last week, gold futures rose approximately five dollars per ounce. However, the net change brought about by buying and selling minus dollar strength or weakness was about $20. It was extreme dollar strength that tapered any upside potential, which resulted in limiting gold's upside move to about a 1/4 of the price change before factoring in the U.S.... Read more