The Flynn Effect

December 1, 2017 - 5:30pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Today we issued a TRADE ALERT: Buy February Gold @ the Market (Current 1286 to 1288) Place stop (GTC- good till canceled) below 1272.

Gold Market Forecast

Gold staged a sudden rally on Friday, as the U.S. dollar weakened and equities dropped in the wake of news that former national-security adviser, Michael Flynn, pled guilty to lying to the FBI, raising concerns over further upheaval in President Donald Trump’s administration.

The Michael Flynn news “caused a sharp rise in risk aversion with stocks and the dollar going down, boosting the appeal of safe-haven gold,” Fawad Razaqzada, technical analyst at Forex.com. “Things could get ugly really quick as this is big news—make no mistake about it.”

Sentiment Indicator: