Gold and Other Investments Silent | The Gold Forecast

Gold and Other Investments Silent

March 27, 2015 - 4:14pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Last Thursday we sent out a special trade alert: "Buy Gold @ market Buy silver @ market”

On Friday (March 20) we outlined a strategy for exiting our long gold trade on an OCO order.

Yesterday we issued a "Trade Alert" to raise stop for those who did not implement the OCO strategy.  

In either case you pulled profits on the gold trade. Stop was not hit in silver and it is still an active trade.

Long gold @ 1170 out @ 1218 (oco) or 1194 (stop only) +$4800 or + $2400 per contract

Maintain long silver @ 16.13 Maintain stop @ 16.80

 

Gold Market Forecast

Our underlying assumption this week is that we would see higher pricing in both gold and silver. In both precious metals markets we maintained long positions. On Friday of last week we suggested an alternative strategy for exiting our current gold trade. It involved trailing stops and the implementation of an OCO (one cancels the other) order.

This strategy was based upon our initial exit strategy and upside target. It was our belief then, as it is now, that gold had the ability to rise as high as approximately 1220 per ounce. This was based upon our Fibonacci retracement studies as well as trend analysis of support resistance areas.

This strategy will be detailed on today’s video report, in which we will revisit last week’s report and analyze how effective our upside target was and the difference found within the two strategies we outlined.

As far as next week is concerned we could see a little bit of profit taking and backfilling in both gold and silver, but look to the U.S. dollar for insight regarding where we will see both gold and silver go. Once again I believe gold and silver prices next week will be heavily influenced by dollar strength or weakness.

Sentiment Indicator: