The market’s in holiday mode with many traders enjoying their time off. The price of Gold is in the higher end of the most recent trading range sitting on what many feel is a super strong foundation. If you look at how many hits the price of Gold has taken in 2017, one must believe that even with the Fed predicting three rate hikes next year, the price of Gold should head higher. Next year could be the year for the yellow metal. Especially if the Equity Markets sell off.
The question on many Equity traders minds is now that the tax bill has been signed what direction do equities take in the new year. One financial adviser I spoke said, “the equity investor has to have a lot of patience in 2018 and wait to see how corporate earnings turn out. The market still has momentum, but if there is any derailment it could get very ugly. Unfortunately, we will just have to wait and see. I’m encouraging my clients to have stop loss orders in place and not wait for a big move to the downside to put them in. There is just too much money on the table here.”
Upcoming in Friday’s report, “What does the future hold for Bitcoin in 2018?”
Have a wonderful Wednesday.
Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.