Pick A Card, Any Card | The Gold Forecast

Pick A Card, Any Card

September 23, 2014 - 5:05pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

The short trade we initiated last week has come to a conclusion. Based upon the intraday spike that took gold to a high of 1233, we were stopped out of our position at 1232.

We currently have no open positions, and today's video will discuss our current strategy and potential next move.

Short gold @ 1249.54 out at 1232 for a profit of $17.54.

Gold Market Forecast

Any kind of major rise in gold was short-lived at best. Although we saw the market move substantially higher on news of military action in both Iraq and Syria, we saw no sustained follow-through and in fact gold is currently trading only eight dollars higher - over $10 off of the day's highs.

It is my current belief that we will probably witness lower pricing in gold. However, we might see some sort of interim price spike, which will be short-lived at best.

Sentiment Indicator: