FOMC Meeting Commences | The Gold Forecast

FOMC Meeting Commences

July 31, 2018 - 6:08pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
All traders should be Flat, with no active trades.
This morning we sent out a Trade Alert to COVER all short gold contracts. This was the last trading day for August and December is now the most active contract. We gained $200 per contract on the trade.
Also this sets us up for the next trade which will be in the December contract month
 
Gold Market Forecast

The next moves we see in gold will be dollar based, and the dollar will react to the FOMC statement due out on Wednesday. We present our strategy for tomorrow on today’s report.

Sentiment Indicator:
Gold -> Neutral
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bearish