The Fed, the Dollar, and Gold | The Gold Forecast

The Fed, the Dollar, and Gold

September 20, 2017 - 5:48pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We are currently flat with no active trade
Yesterday we sent out a trade alert to Buy gold @ the market
We went long December 2017 gold @ 1314.70. Today our stop was hit @ 1306, for a loss of $9.00 or $900 per contract
Gold Market Forecast

In as much as it was my belief that this current correction would be no deeper than 50 %, I was wrong.

Gold has in fact now traded to a low of $1300, a .618% retracement.

While this is a logical place to look for an upside move, concluding this current correction, we will wait for the pivot before we enter our next trade.

Sentiment Indicator: