06/04/2015 – Gold

Issued: 06/04/2015

August gold:

1. I noted in recent Williams edge live meetings that the Mon., June 1 attempt at $1208 (swing high, $1204.70) could be interpreted as weakness and if so, would prompt substantially lower prices in August gold.

2. Today’s session is showing such weakness. Aggressive (only) can short August gold at the market (current price, $1176) and remain with the position upon a daily close below $1180. Any daily close above $1180 would representour protective stop for now.

3. Partial short position exit should be taken at/near $1172/$73. Further exit will be messaged in a subsequent update.

David Williams

Issued: 06/04/2015

August gold:

1. I noted in recent Williams edge live meetings that the Mon., June 1 attempt at $1208 (swing high, $1204.70) could be interpreted as weakness and if so, would prompt substantially lower prices in August gold.

2. Today, aggressive traders (only) were instructed to short August gold at $1176 and remain with the position upon a daily close below $1180. Any daily close above $1180 would represent our protective stop for now.

3. Partial short position exit were instructed to be taken at/near $1172/$73. Today’s subsequent swing low was $1172.40, allowing for partial exit. Further exit will be messaged in a subsequent update.

David Williams

Issued: 06/04/2015

August gold:

1. Today, aggressive traders (only) were instructed to short August gold at $1176 and remain with the position upon a daily close below $1180. Any daily close above $1180 would represent our protective stop for now.

2. Partial short position exit were taken at/near $1172/$73. Today’s subsequent swing low was $1172.40, allowing for partial exit.

3. Although further decline remains possible, tomorrow’s Fri., June 5 jobs report will make it more likely a test $1180 could occur. Therefore, it is prudent to exit the market with today’s profits and wait for a secondary opportunity for a potential further decline August gold.

David Williams