If it Isn’t Broke Don’t Fix It

August 16, 2017 - 5:52pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
 
Yesterday we pulled profits on our last trad. Long gold @ 1270 and out @ 1278 for a profit of $8.00 or $800 per contract
This morning we sent out a trade alert: Dec Gold currently @ 1283.7 up $4.00. Buy @ market Stop Below 1270
Maintain long gold @ 1283.70 Maintain stop below 1270
Gold Market Forecast

With the recent de-escalation of tensions between North Korea and America, we have seen downside pressure in both gold and silver pricing which ended today immediately following the release of last month's minutes from the FOMC meeting. The more dovish stance of the Federal Reserve has given the precious metals and upside boost which should continue throughout the remainder of the week.

Sentiment Indicator: