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The Gold Forecast Videos

COVID-19 virus results in over 21 Million layoffs in one month
Today the U.S. Labor Department reported that an additional 5.25 million workers applied for unemployment benefits last week. This brings the total number of individuals applying for unemployment benefits to just over 21 million in the last month. These job losses are largely directly attributable to the current coronavirus pandemic.... Read more 04/16/2020
A “Three River Evening Star” identified in a daily candlestick chart of gold futures
On yesterday’s opening letter we spoke about the fact that even though gold traded to its highest value this year, it’s still closed lower on the day. That along with other technical factors suggested that we could be close to, or on the precipice of some type of correction in gold pricing. Considering that between the low achieved on... Read more 04/15/2020
Gold trades to its highest level of 2020, and then closes lower on the day
Although gold futures hit a new yearly high of $1788.60 in trading today, as of 4:48 PM EST gold futures are currently down by $5.40 and fixed at $1755.90. The lower pricing is occurring during a day of dollar weakness, with the U.S. dollar index currently down almost ½ % (-0.49%) and fixed at 98.85. There is also a disconnect between... Read more 04/14/2020
Gold remains volatile, trading down in double-digits and reversing to close higher
It is been another extremely volatile day for gold futures. Beginning from the opening Monday morning in Australia, roughly 22 hours ago, we have seen gold futures basis the most active June contract trade as low as $1724.20, which was a double-digit decline on the day. As of 4:20 PM gold futures are currently up $12.40, which is a net... Read more 04/13/2020
U.S. economy deteriorating with alarming speed
This morning it was reported that over 6.6 million Americans have filed for unemployment last week, taking the total to over 17 million since the start of the COVID–19 pandemic. The Unemployment rate in the U.S. could be as high as 13%, this according to some economists, including former Fed chairwomen Janet Yellen. The Federal... Read more 04/09/2020
The Federal Reserve releases minutes from the last two emergency meetings
Today the Federal Reserve released its minutes from the last two emergency meetings. It was during these emergency meetings that the Fed decided to move interest rates to near zero, and keep them at this rate until the economy has “weathered” the coronavirus pandemic. The first emergency meeting was held remotely on Sunday, March 15... Read more 04/08/2020
Gold futures trade to $1742 before profit taking moves prices lower
After hitting the highest price gold futures have traded to in the last seven years, $1742 per ounce, profit taking has taken gold prices below $1700. In trading overseas yesterday for a brief instant gold broke the former ceiling of $1703, creating a new high, which will now become short-term resistance at $1742. As of 4:30 PM EST... Read more 04/07/2020
Gold breaks above neckline of inverse head and shoulders, higher prices ahead
Today market participants witnessed a rare event with the U.S. equities rallying approximately 7% on the day based upon diminishing fears of the coronavirus, as the safe haven class rose between 3.6% (gold) and 5.39% (Silver) based upon the fact that the coronavirus is about to reach its apex in the United States this week. This... Read more 04/06/2020
COVID-19 has profound impact on U.S. jobs which declined over 700,000
The long-awaited U.S. labor department’s jobs report was released today indicating that employment in the United States declined by 701,000 individuals last month. Along with payrolls declining by over 700,000 which was 600,000 above the estimate provided by economists which predicted 100,000 jobs would be lost last month, the jobless... Read more 04/03/2020