07/02/2012   Daily Report

Greetings!,


Today's market activity in the precious metals can be best described or characterized as quiet. 

 

Gold is holding near steady today, the result of a few minimal factors. U.S. manufacturing was off - surprising in its depth but not totally unexpected since June is a traditionally slow month as retailers and other buyers of goods trim purchases in anticipation of summer sluggishness.


There is also some consolidation after the euphoria last week generated by the first steps in resolving the E.U. crisis. That leap has held largely intact. please note that in the proper action block we are recommending the raising of stops for our current long position. 

 

For those who did not enter the market but wish to: we will look for a strategic point to enter.and send out a trade recommendation when triggered.

Finally, we are range-bound headed into this week's Fourth of July national holiday in the United States.  

 

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 :  

 

Long @ 1569 Raise Stop to below 1580 

Long @ 26.70 Raise Stop to below 26.80

 

 

MARKET FORECAST

Gary S. Wagner

 


On a technical basis today's video will take a look at various price points that will be our initial targets for both gold and silver. These targets will be based upon resistance areas which have been identified through the use of Fibonacci retracements and trend analysis.
Gold

 

 

  Silver  

 

 

Copyright (c) 2009 - 2012 Wagner Financial Group 

 
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.