04/12/2012   Daily Outlook

Greetings!,

 

The next FOMC meeting is scheduled to begin on the 24th of this month. Until then speculation abounds as we see continued division among the Federal Reserve Bank presidents. Statements made today by New York Federal Reserve bank president William C. Dudley suggest the possibility of another round of quantitative easing (QE3).

 

In response from an audience question Dudley reaffirmed his commitment to statements made on March 13 to maintain current interest rates near zero.

 

According to Bloomberg news, Dudley said that "The Fed might reconsider additional stimulus measures if the economy got worse."   

 

It was this statement that propelled the precious metals markets to higher ground as well as the U.S. equities markets. The dollar weakened in response to these comments. We continue to see division among the Federal Reserve membership as they work to secure policies that will allow the U.S. economy to rebound and grow. 

 

 

As always, wishing you good trading,

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner

       Today's video 

  

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Proper Action

 GOLD & SILVER :

 

 Gold: Maintain long in gold @ 1650 avg Stop below 1623 

 

Silver:  Maintain  Long @ 32.46 avg Stop below 30.52 

  

   



MARKET FORECAST

Gary S. Wagner

 

Gold & Silver:  on a technical basis today's activity in the precious metals markets is a continuation of the rally that began last week. Noteworthy today is the price advance in silver. Gaining over 2% on the day, today's price gain has moved silver above its former resistance of $31.80 per ounce. Today's video will continue to explore the identified triangle correction in gold, as well as point out resistance levels to look for along the way. 

 

Gold Chart

 


  

 

 

 Silver 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.