05/14/2012   Daily Outlook

Greetings!,

 

The European Union as we know it is changing almost day by day. Heightened concern continues because Greece currently can't cobble together a coalition government. This brings up a high likelihood that new elections will be forthcoming in that country. Italian and Spanish bonds are now above the critical 6% benchmark. Even Germany has seen parts of its electorate convey disapproval of the current austerity measures as laid out by Chancellor Merkel.

 

As of yet we have seen no real safe haven buying and no buying the dip mentality surface in the gold market. Traders are still operating under the belief that traditional safe haven investments are outweighed by the safety of the U.S. dollar and its treasuries. I believe that if the European crisis continues to intensify at some point we will see a bullish emphasis on the precious metals markets. However, facts are facts and this market has been reacting in a bearish manner to the current crisis in the European Union. 

 

 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 & SILVER :

  

: Gold: Awaiting trigger... no position

 

Silver:  Awaiting trigger... no position

 

Aggressive traders should be short or initiate short position 

  

   



MARKET FORECAST

Gary S. Wagner

 

Gold & Silver: on a technical basis the precious metals markets continue in a full-blown bearish corrective mode. Gold easily broke through support at 1580 as it trades almost $24 lower on the day. The next real level of support will be discussed in today's video. Silver also continues its downward move. Today's video will chart support levels that we believe are achievable for silver prices.



 

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.