Gold Reacts to Geopolitical Tension on Two Fronts | The Gold Forecast

Gold Reacts to Geopolitical Tension on Two Fronts

April 11, 2017 - 5:35pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

This Morning we sent out a trade alert:  Major breakout above resistance. June gold up 19 dollars at 1273. Buy gold at market (1273 current). Stop under 1260

Gold closed at 1276.50

Maintain long gold at 1273. Maintain Stop below 1260

 

Gold Market Forecast

As we spoke about in today's opening letter, the geopolitical hotspots that exist are not new, but rather it seems on both fronts they are coming to a head. Based upon the seriousness of these tensions, and the fact that they will probably not be result overnight, leads us to believe in the real potential for a strong upside move in the precious metals markets. Our upside target is currently 1327 in gold, and today's video will detail where that number comes from.

Trending Markets Forecast

For the last three days we have seen US equities markets close with very little change. At the same time today's low in both the Standard & Poor's 500 and the Dow Jones industrial average did trade below the 200 day moving average. However both indexes managed to close above them back in unchanged territory. It must be noted that with the geopolitical concerns that have been raised over the last few days we could see weakness enter into US equities.

Sentiment Indicator: