Federal Reserve Releases Report

January 18, 2017 - 5:27pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On Thursday, January 3,  we sent out a special trading alert recommending the initiation of long positions in both gold and silver.
 
Yesterday we suggested that you raise you gold stop to below 1195. Today we sent out a trade alert: 
 
Today precious metals prices are coming under extreme pressure with the release of this month's beige book. As such gold is currently trading at 1202 to 1203 per ounce.  Our recommendation is aggressive traders can add to their position here, with stops for all long gold's below 1195. 
 
Maintain current long gold at 1180. Maintain second gold long @ 1203.
Maintain current stops under 1195
Maintain current long silver at 16.65. Maintain current stop under 1592
Gold Market Forecast

With the release of today's beige book by the federal reserve, traders witnessed a resurgence of US dollar strength, as well as underlying weakness in the precious metals complex.

However based upon the overwhelming uncertainty which exists as a new administration will begin in under 48 hours, we could expect to see continued volatility and further upside potential in the precious metals complex.

Trending Markets Forecast
Editor’s Note:  This week we are now streamlining our delivery of the trending markets module and have incorporated it into the daily and weekend Gold Forecast video for those that have signed up for the additional service.  
You will now see the additional markets commentary contained within a single report.
Sentiment Indicator: