Death Taxes and Interest Rates? | The Gold Forecast

Death Taxes and Interest Rates?

March 8, 2017 - 4:55pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On Thursday, Febuary 23, We recommended to  buy gold @ market  and reserve capital to add to position on dip or first upside target. Yesterday we sent out another Trade Alert as gold prices moved within dollars to our stop.
1> Let the stop play out and a move below 1213 would effectively stop us out.
2> The aggressive move would be to add your 2nd leg here and place stops on both legs below 1207
1> Stop Hit: in @ 1250 out @ 1213 for a loss of $37 dollars ( 3700 per contract)
2>  if you added maintain both legs of trade with stops below 1207
Gold Market Forecast

Today the precious metals continued under pressure trading to lower pricing, still reacting to the high probability of an interest rate hike later this month. The upcoming FOMC meeting has put primary pressure on US equities as well as the precious metals, and has been supportive of the US dollar. The real question here is at what point traders and investors will have factored in this upcoming event.

Trending Markets Forecast

Crude oil prices moved dramatically lower today selling off over 5%, losing over two dollars per barrel to close just above $50. After trading sideways in a defined a narrow range between 52 and $54 today's break signaled a new potential pricing with current technical support at $49 per barrel. US equities were mixed with the NASDAQ index closing fractionally higher, and both the Standard & Poor's 500 in the Dow Jones trading marginally lower.

Sentiment Indicator: