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January 15, 2016 - 5:31pm

Kitco News speaks with technical analyst Gary Wagner to see where he thinks gold will close for the week. After seeing its biggest one-day drop since December, the yellow metal moved higher Friday as U.S. equities were clobbered. Kitco News, January 15, 2016.

December 11, 2015 - 6:22pm

It’s all about the Fed next week, with the Federal Open Market Committee meeting concluding on December 16 and markets anticipating the first interest rate hike in nine years. What could happen to gold? According to longtime technical analysts Gary Wagner, the metal could see more downside pressure next week. ‘If we get liftoff as anticipated we could see further erosion in gold,’ he told Kitco News Friday afternoon. ‘I would really want to watch the key levels at $1,061, and $1,050,’ he added, stating that these have been the recent lows in gold. February comex gold futures saw some volatility early Friday when the metal rallied up to a high of $1,078.60 an ounce, but has now settled a few cents off that level. According to Wagner, the main thing investors should focus on next week is...

December 4, 2015 - 5:08pm

After Friday’s big move, could $1,000 gold still be in the cards for 2015? Gold ended the week up 2% after coming close to a six-year low earlier in the week. Despite Friday’s price action, Gary Wagner, editor of thegoldforecast.com, said that $1,000 gold cannot be ruled out. He said that gold could still be drawn toward the $1,000 round number and a retest of that key psychological level remains possible. In this edition of Kitco’s Chart This, Wagner comments on whether gold is saying, 'who cares' to the rate hike or whether the U.S. Fed’s plan was priced in long ago. Gold’s rally started in earnest Friday, following the release of November’s nonfarm payrolls report, which was relatively in line with expectations. The data showed that 211,000 jobs were created in November with...

November 13, 2015 - 9:55am

As gold prices continue to struggle following Thursday’s fall to a near 5.5-year low, one technician says he wouldn’t be surprised to see the metal move lower. Commenting on famed economist Nouriel Roubini’s call for $1,000 gold in 2015, Gary Wagner told Kitco News that ‘he could absolutely be correct.’ According to Wagner, it is important to look at the intraday low of $1,073/oz gold hit Thursday. ‘That’s a critical point in that it creates a double bottom…secondly, it is a 61% retracement of larger rally from about $550 up to $1,920/oz,’ he explained. Looking at the charts, Wagner says his range for gold right now is between $1,072-1,100, but he is even considering the $1,000 support level. ‘I think the action that we’ve seen over the last couple of weeks with the dramatic decline is...

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October 13, 2015 - 5:17am

Published on Oct 13, 2015

As gold prices continue to rise Tuesday, one technical analyst says he expects the momentum to continue. ‘We saw what I believe is the absolute bottom in terms of gold prices when it came intraday down to about $1,071 and since that, we’ve seen the market rise,’ Gary Wagner, editor of thegoldforecast.com, told Kitco News in an interview Tuesday. ‘I think we will probably see some stabilization.’ According to Wagner, it is also interesting that gold prices and equities are moving in tandem, as they did in 2009, he said. December gold futures were last up 0.11% at $1,165.80 an ounce, while major U.S. indices remain flat on the day. Looking at silver, Wagner said to expect more volatility for the metal ahead. December Comex silver futures continued their...

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