Traders and Investors await Fed and BOJ Policy Decisions on Wednesday | The Gold Forecast

Traders and Investors await Fed and BOJ Policy Decisions on Wednesday

September 20, 2016 - 5:03pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

This morning we sent out a Trade Alert: 

Buy gold @ the market (1317 Current Dec Comex) (1314 spot) 

Buy Silver @ market 19.30 (Comex) Place stop below 1878

Maintain both longs and both stops

Gold Market Forecast

Just as we have seen in many of the other major markets, precious metals traded in a tight range closing fractionally higher on the day.

Of course traders and investors are awaiting policy decisions which will be revealed tomorrow.

Based upon our current market analysis, as well as the fact that there is a 85% probability that no September rate hike will be forthcoming, we felt it was most prudent to recommend long positions in both gold and silver.

Today's video report will detail why that decision was made as well as go over the rationale behind our current stop placement's.

Trending Markets Forecast

Are we witnessing the quiet before the storm, or the quiet before the quiet.

Today we saw the markets overall move in fractional increments, as traders await policy decisions by both the Federal Reserve and the Bank of Japan.

Although the markets are extremely quiet today we could see some rather bright fireworks following policy decisions being revealed at the end of tomorrow's FOMC

Sentiment Indicator: