Gary Wagner leads Kitco News into the long weekend with his latest thoughts on the gold market as well as the resurgence seen in the U.S. dollar. Talking on gold’s price action, Gary notes that the metal is now within the $1,182-1,221 trading range. “The fact that we’ve moved back in the range is foreboding because it seems easier to move down from here…especially with the dollar rebounding again,” he says. Tune in now to see what key levels are catching Gary’s attention and how he sees the metal set up for the short week ahead. Kitco News, May 22, 2015.
As gold prices build on Wednesday’s sharp rise, Gary Wagner checks in on this edition of Chart This! to see if there’s any substance for a sustained gold price rally. Without question, Wagner believes that gold must close above $1,200 Friday for there to be any hope of a sustained rally. He adds that while gold price fluctuations are linked to U.S. economic data performance, he adds that there is also a currency-based aspect involved. “[W]e pair gold against currencies and we’ve seen that the tremendous rise in the dollar put so much pressure on gold – now we’re seeing the dollar falling,” he says. “I think the big story here right now is the euro/dollar because [it's] been so excessively strong. We need to see if it can keep that.” Tune in now to see what the charts are telling Gary...
It’s Friday and that means Gary Wagner is on Kitco News to talk about what key levels he is looking at for the gold market. Alluding to the last "Chart This!" episode, Gary says he was looking for gold to breach $1,221 in order for him to become bullish on the market. “I said even in a bearish market we should see a bounce, and it wouldn’t surprise me to see the market to go to $1,221,” he says. However, Gary now says gold’s key resistance level now stands at the $1,200 mark. Gary also takes an in-depth look at the U.S. dollar as well as record hitting equities markets to see how they are affecting the gold market. Tune in now to see what support and resistance levels are catching Gary’s eye. Kitco News, April 24, 2015.
After an almost 3-week hiatus, Gary Wagner is back on Kitco News to tell us how he sees the market set up for the coming week. He says given gold’s recent volatility, he wouldn’t be surprised to see the market drift lower. “I really have to see $1,221 as a number taken out before I can really get bullish again on this market,” he says. Gary also comments on recent dollar volatility and how he sees that spilling into gold and other commodity markets. Tune in now for Gary’s latest in-depth look into the gold market and to get his forecasts for the week. Kitco News, April 10, 2015.
Gary Wagner joins Kitco News after this action-packed week to share his latest thoughts on the gold market. Wednesday’s FOMC policy meeting caused a stir in the gold market, which is now looking like it may close off the week on a positive note. Wagner says that although it is an extremely oversold market, he wouldn’t be amazed to see gold head higher. “I wouldn’t be surprised to see the market bounce, even as high as $1,220 an ounce.” He says that despite the dollar’s drop on Wednesday, which he says was the greatest drop since 2009, he still sees the currency heading higher. “I’ve never seen that kind of a move,” he says. “The dollar will probably continue on its upward track.” Kitco News, March 20, 2015.