A Quiet Mutiny From Stern To Bow… Eyes Open Everyone

September 3, 2015 - 5:23pm

 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 have no active trades, our stop was hit today.

We went long gold @ 1140 
Our stop was hit today - out @ 1128 (-$12.00)

 

 

Gold Market Forecast

Aside from silver today we witnessed the precious metals complex is a whole trade lower. Although silver closed up three cents on the day (which in essence is close to unchanged), the rest of the precious metals complex did close lower.

A combination of selling as well as a stronger US dollar contributed to today’s lower pricing. Gold, for example, lost three dollars simply due to normal trading and another $5.70 was lost due to a strengthening US dollar. The combination of both strong dollar and normal trading amounted to a $-8.70 move in gold.

With the jobs report due out tomorrow we can expect some increased volatility within the market. Add to that a three-day weekend (with Labor Day celebrated on Monday, which could certainly curtail any real volume tomorrow. So the combination of volatility due to the jobs report and lighter than normal volume could contribute to some wild gyrations in the markets is a whole tomorrow.

Trending Markets: Proper Action

We have no open trades.

Trending Markets Forecast

As we spoke about in the proper action section of the gold forecast, look for increased volatility tomorrow due to the jobs report just ahead of a three-day weekend (Labor Day).

US equities markets are certainly on edge and uncertain, as we saw the Dow Jones industrial average trading triple digits higher up about 200 points to close very near the open of today’s trading activity. This alludes to the fact that there is true uncertainty in the market as traders await tomorrow’s numbers

Sentiment Indicator: