Just When You Thought The FOMC Meeting Was Not Going To Get Any More Complicated, Along Comes Low Inflation | The Gold Forecast

Just When You Thought The FOMC Meeting Was Not Going To Get Any More Complicated, Along Comes Low Inflation

September 16, 2015 - 4:38pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday morning we sent out a special "TRADE ALERT" reccomending that you sell gold @ the market.

today the stop was hit: Short gold @ 1105.36 -- Out @ 1117.36 (-$12.00)

Gold Market Forecast

Whether it is due to short covering, or initiating long positions, with the FOMC meeting beginning today the net reaction was dramatically higher prices across the board in the precious metals markets. Although gold, platinum and Palladium all made a 1 to a 1 ½% gain, it was silver that shined the brightest in today’s trading activity. Silver managed to close up almost 4% on the day just shy of $15 per ounce.

Today’s video report will look at current levels of support resistance in both gold and silver. As we were stopped out of our trade today we will let the dust settle and the Fed speak tomorrow before initiating any new positions.

Trending Markets: Proper Action

Today our stop was hit short @ 44.25  Out @ 46.50 _$2,25)

Trending Markets Forecast

In anticipation that no announcement on interest rate hikes will be made tomorrow by members of the Federal Reserve as they conclude this month’s FOMC meeting the US equities markets gained solid grounds, had solid gains, resulting in a close above prior resistance in the Standard & Poor’s 500 as well as the Dow Jones industrial average. This was really the signal that we have been waiting for in terms of a long-term view of the market. It does appear at this point is we should move into (or continue) a rally mode. We will look to enter long position in the Standard & Poor’s E-mini. You can initiate a long position here or wait for our trade alert.

Sentiment Indicator: