06/04/2014 – Gold

Issued: 06/04/2014

Aug. gold:

1. Yesterday’s (Tuesday June 3) Aug. gold update indicated initial long position exit at/near $1248 (today’s session high, $1249.50, so far). This initial long position exit was based upon the original Monday, June 2 Aug. gold trade set up.

2. Will message higher price targets in a subsequent update.

3. Our protective sell stop remains at $1239. This stop will be moved higher as the market continues to confirm. Will update.

David Williams

Issued: 06/05/2014

Aug. gold:

1. Our Mon., June 2 Aug. gold update indicated new long entry in Aug. gold upon any daily close above the recently forecast $1241/$40 downside target for a tradable advance to $1255 (or higher) later this week.

2. Aug. gold tested and closed above $1241/$40 on both Mon., June 2 (daily close, $1245) and Tuesday, June 3 (daily close, $1243.70), prompting new long entry.

3. Today’s (Thursday, June 5) completed the forecast advance to $1255 which is partial profit-taking territory (today’s session high, $1257.90).

4. Higher prices remain possible. Will message higher price targets in a subsequent update.

5. Our protective sell stop has been raised to $1242. This stop will continue to be moved higher as the market continues to confirm.

David Williams

Issued: 06/02/2014

Aug. gold:

1. Today’s completion of the forecast decline in Aug. gold from $1253 to $1241 noted in previous updates is important. Continued daily closes above $1241/$40 will indicate a test/attempt at $1255 or higher later this week (week of June 2).

2. Any further test and daily close above $1241/$40 is important and will prompt new long entry for the above-noted advance. Will update in tomorrow’s (Tuesday, June 3) session as the market continues to confirm.

David Williams

Issued: 06/03/2014

Aug. gold:

1. Today’s Aug. gold further tested the recently forecast $1241/$40 downside target and closed the session above that level (daily close, $1245). This prompted new long entry as noted in our previous update.

2. Initial long position exit should be taken at/near $1248. Further exit at/near $1251 and final long position exit at/near $1255. Aggressive can hold a small remaining position for the possibility of higher prices to be messaged in a subsequent update.

3. Initial protective sell stop should be placed at $1239. The stop will be moved up as the market continues to confirm. Will update.

David Williams