Gold and Silver Rally Continues | The Gold Forecast

Gold and Silver Rally Continues

May 22, 2017 - 5:46pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

P.S. Want to get my Gold Forecast that's returned 1600% since 2010 for free?  Click Here

Members section is now available for free, because 14 days has past since its publication.

Gold Forecast: Proper Action

Yesterday we sent out a trade alert to roll over long gold future position. 

Sell June M 2017 Gold GC M7

Buy August Q 2017 Gold GC Q7

Spread is .032 place August Stop below 1245

So if you sold just before the close today you sold the June 2017 at 1260 and bought the August 2017 contract at 1264

In at 1225 out at 1260 for a profit of $35.00 per ounce or $3500 per contract

Maintain long August gold at 1264.00 Maintain Stop below 1245

Main Long Silver at 16.32 and stop below 16.41

Gold Market Forecast

Although dollar weakness certainly contributed to today's upside move in both gold and silver, it was primarily buying in the market that drove silver up a 2% and gold up a half of percent on the day. The long-term patterns we identified at the end of the week could in fact be signaling an extended rally to the upside. Today's video report will also detail our current rollover in our long futures position. In essence is rollover is pulling profits on our June contract and initiating a long position in the August 2017 contract month.

Sentiment Indicator: