Trade Negotiations Result in Stalemate | The Gold Forecast

Trade Negotiations Result in Stalemate

May 10, 2019 - 8:10pm

 by Gary Wagner

Gary S. Wagner - Executive Producer

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Gold Forecast: Proper Action
On Sunday we sent out a trade alert to enter a long trade in gold. We entered this position at $1285 with a stop at $1268. On Monday we sent out a trade alert to modify the stop to just below today's low at $1278.
 
Maintain long gold at $1285. Maintain the stop at $1278.
Gold Market Forecast
The trade negotiations which began yesterday will be certainly contending with more obstacles than previous trade delegations. With the countdown completed and tariffs went from from 10% to 25% changes the dynamics and differences between the two superpowers.
 
Negotiations ended this afternoon in a stalemate., both camps have dug deeper into their respective positions and dynamically extendsthe time frame for an end to the economic trade war. Thererfore we should see gold prices firm substantially next week.
Sentiment Indicator:
Gold -> Bullish
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bullish