Profit-Taking: The Fed, Housing and Ukraine | The Gold Forecast

Profit-Taking: The Fed, Housing and Ukraine

March 18, 2014 - 5:15pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
We were stopped out in both gold and silver today. Maintain long gold @ 1333 and silver @ 21.28 
Gold - in at 1333, out at 1358 +$25.00  Silver in at $21.28, out at 20.90, - .38 cents
No current trades.
Gold Market Forecast

Today we are witnessing a continuation of the corrective action in the precious metals markets that began yesterday. This current correction has been expected, it was simply a matter of when, not if we would see the market enter a round of profit taking. Considering gold as moved roughly $200 since the beginning of 2014, a round of profit taking is not only to be expected but a necessary function of a market that is going to trade to higher ground.

Today’s video we will look at potential areas that we believe gold could go to and talk about our current strategy to reenter the market

Sentiment Indicator: