Solid Economic Data in China and Equity Rally Limits Bullish Sentiment in Gold

April 2, 2019 - 5:20pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action

We have no active positions in gold or silver. However yesterday we did issue a buy signal for June 2019 palladium futures.

Buy June Palladium @ the market and place stop @ 1299.13

Maintain Long June palladium @ $1391.80 (current $1401.20). 

Maintain stop @ 1299.13

Gold Market Forecast

Today’s report will cover gold and palladium in detail. As for gold we see a solid base of support forming at current pricing. It could be setting up a buy trigger. We will detail our rational about a long gold trade.

We will also detail the setup for our current long palladium trade. We will address why it was an opportunity that made the yesterday the correct time to enter.

Over the rest of the week we will plot our exit (price) target for palladium, and issue a buy signal in gold if warranted.  

Sentiment Indicator:
Gold -> Bullish
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bullish