07/03/2012   Daily Report

Greetings!,

 


Buy on rumor and sell on facts. If I had a dollar for every time I've heard that quote I'd have more than a fist full of dollars. However, recent rallies in the equities and precious metals markets are being fueled precisely by that notion. On Thursday of this week the European central banks will meet and it is widely held that the outcome of this meeting will contain some reference to monetary easing policies by the central banks in order to fire up the E.U. economy. The rally that we have seen  recently is adding a premium to precious metals prices. In other words they are factoring in this belief as an influence in both gold and silver

 

On Friday the U.S. jobs report will be released, which also concerns traders and investors. It is widely believed by analysts that approximately 100,000 new jobs were added to nonfarm payrolls. This number does not indicate any real progress in ramping up the U.S. economic scenario.

 

All in all we have the ingredients for a bullish storm in both gold and silver.  

 

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 keep Stop below 1580 

Long @ 26.70 keep Stop below 26.80

 

 

MARKET FORECAST

Gary S. Wagner

 


On a technical basis today's video will take a look at both interim and short-term charts of gold. Specifically we will look at a 60 min. Japanese average chart with Fibonacci retracement points for this recent rally. By combining our daily and short-term charts we will get a more comprehensive view of possible price activity in the near future. Silver continues its upward climb and it is my belief that we really don't have any real resistance until $30 per ounce.
 
Gold

 

 

  Silver  

 

 

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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.