02/14/2012


Daily Outlook

Greetings! ,

 

Although well off of their lows, the precious metals markets are trading down today. Currently we have gold up $.10 in the afternoon market at 1721, and silver off $.14 at 33.58.

 

Surprise surprise! Reports have surfaced that Greece's bailout package is not totally secured. The E.U. officials, along with the Greek leadership, still need to sign the agreement before the deal is set in stone.  

 

Noteworthy is a recent change in the way gold behaves based upon fundamental news of the E.U.'s debt crisis. Selling pressure has been cited as the Greek crisis stagnates, giving us a fundamental shift by gold from a safe haven to a risk on risk off investment. 

 

However, any civil unrest in Greece could rekindle bullish sentiment with gold as a risk on investment.

   

As always wishing you good trading,

  

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner

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Proper Action

 

GOLD: Maintain Long @1580. Our current stop sits just below 1706. My recommendation is to maintain your current position and stop placement.

 

SILVER: Maintain Long @28.10. Our current stop sits just below 32.80. 

 



MARKET FORECAST

Gary S. Wagner

 

Gold & Silver: Both gold and silver are trading in a narrowly-defined range. Gold seems to have excellent support above the $1700 per ounce level, with resistance at 1741 and 1750. Silver also has found support just above $33 an ounce, but is unable to break resistance currently sitting at $35 an ounce. 

   

Gold 720 Minute Chart

 


  

 SILVER Daily Chart:

 

 

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Before deciding to participate in Gold or Silver investments, you should carefully  consider your investment objectives, level of experience and risk appetite. Most importantly with futures activity do not invest money you cannot afford to lose.There is considerable exposure to risk in any futures exchange transaction, including, but not limited to, leverage,and market volatility that may substantially affect the price of  gold and /or silver. Moreover, the leveraged nature of futures trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you.