Gold Reacts To March Fed Minutes | The Gold Forecast

Gold Reacts To March Fed Minutes

April 8, 2015 - 4:52pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

P.S. Want to get my Gold Forecast that's returned 1600% since 2010 for free?  Click Here

Members section is now available for free, because 14 days has past since its publication.

Gold Forecast: Proper Action

We are currently flat with no active trades

Stop hit on gold trade. Long @ 1215 Out @ 1199  (- $16 or 1600 per contract)

Gold Market Forecast

The real question traders need to ask is whether today’s lower pricing in gold was a corrective pullback or simply a continuation of the downside pressure we have seen overall in the precious metals markets over the last few years. On a technical basis, the fact that gold was unable to take out its current resistance area at 1221 is noteworthy. The real question now is if gold prices will be able to hold that benchmark at $1200. My current belief is that should gold be unable to sustain a price point above 1200 it could drift back and actually threaten recent lows at 1140.

Sentiment Indicator: