Gold Wears White Hat To Serve As Traditional Haven | The Gold Forecast

Gold Wears White Hat To Serve As Traditional Haven

December 18, 2015 - 4:54pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Last Monday (12.07.15) we sent out a TRADE ALERT: Sell Gold @ market, filled at 1077-78, Yesterday we moved our stop down to 1061. This morning our stop was hit:

Short gold @ 1078, Bought back @ 1061 for a $17.00 per oz. profit.

17 X 100 = $1700.00 profit per contract

Gold Market Forecast

There is no doubt that we have seen some real volatility in the markets this week as investors and traders reacted to the initiation of lift off by the Federal Reserve, implementing the first interest rate hike in almost a decade. We have now seen a knee-jerk reaction after the initial knee-jerk reaction. In my opinion we need to let the dust settle before we're able to get a clear picture.

Trending Markets: Proper Action

We enter the weekend flat with no active trades in trending markets.

Trending Markets Forecast

We anticipated (along with many other analysts) a relief rally following the announcement by the Federal Reserve that a rate lift off had occurred.

However, any relief rally proved to be short-lived as we witnessed the Dow Jones industrial average losing roughly 300+ points over the last two days. 

This puts into real question whether we will experience any kind of a Christmas or New Year's rally. Right now it's probably safe to say any Christmas rally is now off the table.

Sentiment Indicator: