Greetings!,

This current rally in the precious metals is absolutely gaining steam. Gold has traded to a three-month high, and silver has had gains of almost 4% on the day. Investment demand is certainly present in this market. It is in underlying theme in my commentary published today for Kitco metals.

Add some saber rattling on the part of Iran to the pre-existing fundamentals currently at play in the precious metals markets and you have the kind of rally we are currently experiencing.

Reports have surfaced that Iran and stopped oil shipments to some European countries, this in light of the fact that an EU ban on oil imports from Iran is in the works. The Iranian factor could weigh heavily in gold prices in the next month.

For my most detailed commentary please click on this link to view our latest kitco commentary:

As always wishing you good trading,

       Today's video 

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Proper Action

Yesterday's proper action said: For those subscribers who need to reposition: look to buy on dips or breakouts. I am looking for 1800+ gold and 35+ silver. it is my hope that many traders took advantage of this recommendation

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

MARKET FORECAST

Gary S. Wagner

Gold & Silver: the rallies witnessed in the precious metals markets over the last few trading days have taken both gold and silver to price points not seen in months. Although there are psychological resistance and $1800 per ounce in gold, we should not see real technical resistance till about $1810. Silver has performed brilliantly today trading up almost 4% on the day. It has hit and is currently trading above our first target. We will look to see how reaction or to determine whether to raise our stops or pull profits.

Gold Daily Chart

 SILVER Daily Chart:

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