U.S Equity Meltdown - Dow Loses Over 800 point | The Gold Forecast

U.S Equity Meltdown - Dow Loses Over 800 point

October 10, 2018 - 5:49pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

This morning we sent out a Trade Alert 

Buy December gold @ the market (current 1196.40). Place stop below 1178.50 (1176)

Maintain Long Gold. Maintain Stop

Gold Market Forecast

Today’s dramatic decline in US equities are signaling that the trade dispute between China and the United States might have reached an inflection point in which the trade dispute can be more characterized as a trade war. As such today for the first time in a while we have seen a return to favoring safe haven assets over the risk on asset class.

Higher yields and bonds as well as the safety of gold are two avenues that investors are turning to protect their equity. Over the next few days we will see of today’s selloff was a one and done or if it is the beginning of dramatically lower equities pricing until the trade war is resolved.

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