The Wild Ride Continues | The Gold Forecast

The Wild Ride Continues

February 6, 2018 - 5:43pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We are currently flat with no active trades

We were stopped out of our long gold trade today when April futures traded below 1324

long @ 1349.50 out @ 1324 for a loss of $25.50 per ounce ($2550)

Gold Market Forecast

The quick and decisive reversal in US equities today put bearish pressure on gold pricing.

The key to where gold is headed short term is Thursday’s action – or inaction by the US government as we reach the deadline to fund the government.

Depending on the out come will be a a major influence on where the financial markets go to. 

Sentiment Indicator: