06/14/2012   Daily Outlook

Greetings!,

 

To say that market analysts and traders will be closely watching elections held this Sunday in Greece would be an understatement. The election on the small nation of Greece could be a pivotal turning point for that country and its relation to the European Union. It has been reported that the E.U. finance ministers will remain on "standby " for a conference call following the election. It was also reported last night that Spanish 10 year bond yields have pushed above the critical 7% level as credit rating agencies downgrade the credit rating of Spain.

 

Add to that weak economic data that was reported yesterday potentially opening the door for another round of quantitative easing, and you have the necessary ingredients for a sustained rally in gold. 

 

This weekend could prove to be a very interesting  for gold bulls. We will certainly be watching the news for election results in Greece.

 

As always, wishing you good trading

Executive Producer
The Gold Forecast

gary@thegoldforecast.com 

On Skype Gary.S. Wagner

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 GOLD & SILVER :   

 

Long August gold @ 1619 stop below 1560

Long silver at  28.80 stop below 28.00

  



MARKET FORECAST

Gary S. Wagner

 

Gold & Silver: we continue to see a mixed bag in precious metals pricing with gold trading higher on the day and silver trading lower. Today's video will expand on our discussion yesterday of critical resistance areas, and more importantly upside targets for our current trade. 

  

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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.