Soft Data Supportive of Precious Metals

July 17, 2017 - 5:48pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday we sent out a  Trade Alert: Buy Gold & Silver at the Market

October 2017 contract Gold 1232.70 Current +1.7. stop below 1210.

Silver 15.98 Current+0.057. stop below 15.50

Maintain Long Oct Gold @ 1232.70. Maintain stop below 1210.

Maintain Long Sept Silver @ 15.98. Maintain stop below 15.50.

Gold Market Forecast

Today's higher close in both gold and silver is a follow-through from Friday's upside surge in both precious metals. It is absolutely a confirmation that what began slowly last week, as a measured and conservative move became a key reversal in which market sentiment shifted from a predominantly bearish outlook to a bullish outlook. Our opening letter clearly sites the underlying events that shifted market sentiment, and we do expect both gold and silver to gain value throughout the week.

Sentiment Indicator: