Recent Report:
Weekly Report: 2 days 4 hours ago
Gaining 82 points on the day resulted in the Dow Jones Industrial Average closing at a new record high of 26,743.50. This is the second consecutive day in which the Dow traded to a new all-time high. This strong risk-on market sentiment coupled with dollar strength put tremendous downside pressure on gold pricing today. Gold futures basis the most active (December 2018) Comex contract closed down $7.90 and is currently fixed at $1,203.40 per ounce. Spot gold also traded under pressure resulting in an $8.10 decline and taking current pricing once again below 1,200. Spot gold is currently fixed... 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
You might not know it by just looking at the net change of gold futures today, but it is dollar weakness that is keeping the current selloff in gold curtailed. Currently, the most active Comex contract (December) is trading up $3.60 on the day and fixed at $1211.90. This modest rise is occurring in tandem with strong selling pressure on the U.S. dollar which has taken the index almost ¾ of a percent lower with a net decline of 0.669 points. As of 4:00 PM Eastern standard time, the dollar index is currently fixed at 93.445. The Dow and S&P 500 closed at a new record high today (the first new... Read more
Gold futures closed higher on the day, with the most active Comex contract (December) currently up $5.40 at $1,208.30. However recent pricing in gold can be best characterized by the tight and narrow trading range, with major support at $1,190 and major resistance at $1,218. Since the last week of August, gold has effectively been trapped within a $30 trading range. Over the last 17 trading days, gold has closed higher on the day when compared to its opening price on nine occasions and closed lower on the day eight times. Obviously only a minimal price advance or price decline will emerge from this... Read more
As was widely expected, yesterday President Trump made good on his word to implement an additional $200 billion in tariffs on Chinese goods imported into the United States. In response to his action, the Chinese government added tariffs on $60 billion of U.S. imports. It seems, at least for now, both governments are using big sticks with no carrots in sight. One major wildcard that was not anticipated was the fact that President Trump levied tariffs at a rate of 10%, rather than 25%. Although President Trump plans to ramp up tariffs to 25% by the end of 2018, initially tariffs levied will begin at... Read more
As of 4:00 PM Eastern standard time, market participants continue to focus upon the current trade dispute between the United States and China as they await news from the administration in regard to whether the United States will impose additional tariffs. According to a report by Reuters, “U.S. President Donald Trump said on Monday he would announce his latest plan on China tariffs after the markets close, with expectations he would level them on about $200 billion of Chinese imports.” However this seems to be part of the mixed messages being received as earlier Larry Kudlow, economic advisor to... Read more