Video January 22 2013 Archives-Daily-Show

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PREMIUM MEMBERS

 

~~~~~~~~Many the hopes that have vanished after the ball.

      - last line from the popular 1890s song, "After The Ball"

 

Now that the elections, holidays, and the inauguration are over, it's time to get back to business.

 

One might have thought that Japan's announcement reaffirming it would begin a massive asset-buying program - bigger in net terms than the current QE3 by the United States - would have spurred a rise in gold and silver of some magnitude. However, it didn't as some traders are wary of Japanese promises and others feel that the premium has already been built in.

 

Goldman Sachs has targeted gold at an $1825 high this year, predicting that most of the jump will come in the first quarter. Well, we have 68 days to go, so if Goldman's prognostication is right, the bull better get his backside in gear pronto. The $1825 figure is certainly not out of the question, but if it comes, it is more likely to appear midway through the second quarter.

 

Some analysts and traders are pinning their hopes on the brewing stalemate between the liberals and conservatives in Washington vis a vis the debt ceiling, the debt and the deficit. Of course any factional lollygagging will create uncertainty, but the most important facet for precious traders to keep their eyes on is how any potential political deals will affect inflation. (Regardless of up or down.)

 

Things will get very emotional on both sides of the aisle and it appears the President is as confident as a man can be that his positions will prevail.

 

The Republicans, for their part, are dragging out the tired notions of "fiat money" and "oceans of debt." They can't stop the Fed from easing. They can't stop the government from paying its contracted bills. As we said yesterday, the sides need to sit down and when negotiating leave nothing off the table. Nothing.

 

Right now good faith bargaining will be more important to the financial community than specifics. Let's agree to agree and work from there. 

  

As always, wishing you good trading,

  

Gary Wagner 

 

  

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

1/22/2013  Daily Report
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear Gary,

Many the hopes that have vanished after the ball.

- last line from the popular 1890s song, "After The Ball"

Now that the elections, holidays, and the inauguration are over, it's time to get
back to business.

One might have thought that Japan's announcement reaffirming it would begin a massive
asset-buying program - bigger in net terms than the current QE3 by the United States
- would have spurred a rise in gold and silver of some magnitude. However, it didn't
as some traders are wary of Japanese promises and others feel that the premium has
already been built in.

Goldman Sachs has targeted gold at an $1825 high this year, predicting that most
 of the jump will come in the first quarter. Well, we have 68 days to go, so if 
Goldman's prognostication is right, the bull better get his backside in gear pronto.
The $1825 figure is certainly not out of the question, but if it comes, it is more
likely to appear midway through the second quarter.

Some analysts and traders are pinning their hopes on the brewing stalemate between
the liberals and conservatives in Washington vis a vis the debt ceiling, the debt
and the deficit. Of course any factional lollygagging will create uncertainty, but
the most important facet for precious traders to keep their eyes on is how any potential
political deals will affect inflation. (Regardless of up or down.)

Things will get very emotional on both sides of the aisle and it appears the President
is as confident as a man can be that his positions will prevail.

The Republicans, for their part, are dragging out the tired notions of "fiat money"
and "oceans of debt." They can't stop the Fed from easing. They can't stop the government
from paying its contracted bills. As we said yesterday, the sides need to sit down
and when negotiating leave nothing off the table. Nothing.

Right now good faith bargaining will be more important to the financial community
than specifics. Let's agree to agree and work from there.

As always, wishing you good trading,

Gary Wagner

Executive Producer
The Gold Forecast

gary@thegoldforecast.com [mailto:gary@thegoldforecast.com]

On Skype Gary.S. Wagner
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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Proper Action

GOLD & SILVER:

Maintain long in gold

Long gold @1659 stop below 1635

Maintain long in silver

Long silver @30.23 stop below 29.10 basis Comex contract
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

On a technical basis today's upside move in both gold and silver are a continuation
of the upside rally which began about two weeks ago. We still are looking at moderate
resistance at about $1700 per ounce in gold. Silver, though, has broken through 
its resistance at $32, and it is now my belief that $32 per ounce should become 
the supportive price point. Today's video will look at upside targets and resistance
areas now evident in silver, as well as upside targets in gold. As the market has
been moving to the upside it is my recommendation that you maintain long positions
in both gold and silver. For those who pulled profits on their positions over the
last few days I would look to begin to scale and enter the market back from the 
long side until we see any signs of weakness.
 

Gary S. Wagner - Executive Producer