Silver Continues to Out Perform Gold | The Gold Forecast

Silver Continues to Out Perform Gold

September 4, 2019 - 6:44pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

Trade Alert: we sent out today

Both gold and silver closed higher, however silver gained 2.54%, vs which gold gained .48%. With the dollar index down .55% gold’s move today was 100% due to a lower dollar. While I feel comfortable issuing a by signal for silver because it broke above resistance so strongly, we are recommending that you by December silver because September silver expires soon, and volume is in sept was 828, December silver’s volume is 199680. See charts

Therefore, Buy December silver @ the market – current price is $19.675 ( however the market was on a break therefore you bout the open of the afternoon session  

Maintain long December silver at $19.54

Maintain stop at $18.71 upside target is $21.13.

 
Gold Market Forecast

The primary focus of today's video report was how silver is dominating percentage gains when compared to percentage gains of gold. We spoke about the conditions needed to issue a buy signal in both gold and silver. While silver closed strongly above the current level of resistance, it should become the current support level. In the case of gold it traded to our defined resistance level but not above it. It is for that reason that if and when gold does break above resistance which I believe is a strong probability we will initiate a long position in gold.

Sentiment Indicator:
Gold -> Bullish
Silver -> Bullish
S&P 500 -> Neutral
Bitcoin -> Bullish
Bitcoin fundamentals by Joseph M. Wagner II:

Although many analysts are citing gains over the last two days as evidence of a reversal in BTC we remain neutral but are seeing signs that a breakout is imminent. In spite of a nearly 12% gain in the CME’s bitcoin futures yesterday taking it just above what was resistance at $10,700

On that same note the 50-day moving average at $10,800 proved to be strong resistance as pricing backed off after hitting this technical indicator. Today however it conquered that moving average. With no new fundamental events in BTC we can only assume that the launch of Bakkt on the NYSE on the 23rd of this month is going to be a shot in the arm for Bitcoin and such we are expecting a nice rally to occur before the end of the month.