The Gold Correction Explained

Roger Wiegand explains what happened to the Gold prices recently and why we saw that 100 dollars corrections : ....well 3 things happened that fundamentally moved markets the last couple of days , the Swiss put a cap on their currency which is capital controls on money , I was very disappointed to see that and I can understand why they did it , the Swiss franc which was the go to currency is down , that makes it virtually untradable , that was one of my favorite currencies to trade , next thing was that the German Congress agrees to give cash to Greece and Portugal this means that Germany is going down to slippery slop , the selling in Gold today was just a normal profit taking the trend remains up , there is no problem with gold and silver

We could see a small pullback in Gold and Silver on Monday after they reach a debt ceiling agreement

Roger Wiegand : I think in Monday these characters in Washington will come to an agreement on the debt ceiling I think they will raise it and they will promise some cuts down the road that will never happen , but that will settle down these markets and I think in Monday we will see a pullback on gold and silver not very much but some and then after that it will flatten out and probably after ten days to two weeks we will start a new large rally the biggest one of the year will start in the middle of august till the end of August running all the way to thanks given , our goal is $1707 minimum




Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Roger Wiegand Gold and Silver will rally sharply after the Greece bailout is approved

Roger Wiegand is the Editor and Publisher of Trader Tracks a Stocks, Futures and Commodities electronic newsletter , : what we see is this Greek thing (bailout package)  will be approved and rather quickly I think the end of this week or the first half of next week and ten what happens is the European currency the Euro is going to immediately rally and that will sell off the US Dollar , now when the US dollar is sold off a whole basket of commodities goes higher to the long side , the big buyers will com e back again when they see the dollar going weak again I am pretty sure that's going to happen I am persuaded that's going to be the big trade and as a result of that you gonna see Gold , silver Swiss franc Canadian dollar and the Euro all going up , the US dollar going down I think it will go below 75 says you gonna see just a reverse of what have transpired over the last four to six weeks says Roger Wiegand





Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

Roger Wiegand : futures trading patterns are signalling a positive move for gold in August

Roger Wiegand sees August futures pointing gold upwards! . Roger Wiegand is the Editor and Publisher of Trader Tracks a Stocks, Futures and Commodities electronic newsletter publication for active traders. In addition, Roger writes a weekly column, "Rog's Corner," For J Taylor's Gold and Technology Stocks Newsletter



Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)