Feel Free To Move About The Cabin

March 18, 2015 - 4:33pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Yesterday we sent out a trade alert to  lower protective stop to above 1155. This was to protect equity in the event of a price spike in gold.  We are currently flat with no open trades in gold or silver

We went short gold @ 1156 and covered the posistion @ 1156 for 0 gain or loss on the trade.

Gold Market Forecast

As we mentioned in our opening letter, the Fed has spoken, and the market has reacted in spades. The net result of the release of this week’s FOMC meeting has been a dramatically higher equities markets, dramatically higher precious metals and the U.S. dollar sinking like a battleship.

The underlying weakness in the dollar cannot be overemphasized. On today’s trading activity we currently have gold trading up approximately $22.40. Of this move normal gold trading is actually negative by $3.10. However, when you add the weakness of the dollar, which is $25.50, you get a net change in gold prices of +22.40. It's quite obvious that the key to where gold will trade in the near future is very much dollar related. And the real question is whether we will continue to see dollar weakness throughout the next couple of weeks.

Sentiment Indicator: