Greetings!,

Today traders witnessed a mixed bag in the precious metals markets with gold closing modestly higher, and silver closing lower. There is no doubt that the global markets are recovering and attempting to stabilize in light of recent elections in Europe that have resulted in new leadership, which threatens the economic stability of the European Union.

There is no doubt in the minds of many analysts and economists that the European Union faces a tough road ahead filled with challenges. The latest element: newly elected politicians now threaten the existing austerity measures that took so long to be put into place just a couple of months ago.  

The uncertainty that exists could in fact threaten the viability of the European Union. I fear that what we call the European Union now will have a completely different makeup a year from now. That is if the E.U. can overcome the pressing issues it faces today.

About the only thing I believe for certain is that whatever the outcome is, it will change the European Union as we know it today. As for the precious metals: how they react to the upcoming changes and whether or not gold will return as a safe haven asset in the midst of these issues still holds much uncertainty

As always, wishing you good trading,

       Today's video 

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Proper Action

 GOLD & SILVER :

: Gold: Awaiting trigger... no position

Silver:  Awaiting trigger... no position

MARKET FORECAST

Gary S. Wagner

Gold & Silver:

On a technical basis gold has exhibited only a modest recovery today as it traded a few dollars higher. Today's video will explore two possible scenarios that we might see in the precious yellow metal's near future. Silver continues to maintain its downward slide and I do not foresee any major support until the mid to high $28 per ounce range.

 

Gold Chart

 Silver Chart:

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