Our Pal Friday

October 2, 2014 - 3:23pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Our price order to sell gold at 1221 was filled
last night when gold traded to an intra day high of 1224.

Maintain current short gold at 1221 (current price is 1212.87)

Move buy stop to just above 1225.

Gold Market Forecast

It is our current take that gold and silver could both remain under pressure, with lower pricing ahead. Our price order issued the other day was filled, as the intraday high move past 1221 to 1224.

We see current support at 1200, and we will see if this price can hold. We see current resistance at 1224 to 1234.

Sentiment Indicator: