Trade Troubles Continue as Chasm Deepens Between U.S and China | The Gold Forecast

Trade Troubles Continue as Chasm Deepens Between U.S and China

May 9, 2019 - 6:38pm

 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 today will be certainly contending with more obstacles than previous trade delegations. With the countdown now less than 12 hours away and the almost certainty that Trump will in fact raise tariffs from 10% to 25% is change the dynamics and differences between the two superpowers.

The fact of the matter is that although the negotiations will continue through tomorrow, if tariffs are raised tonight it might dig both camps deeper into their respective positions and dynamically decrease the potential for a favorable outcome and resolution.

If that is the case we should see gold prices firm substantially in US equities to continue to trade under pressure.

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