Since we last spoke with Gary Wagner, gold has fallen below key support levels he shared with our viewers. How does he see the market set up ahead of next week’s much anticipated Federal Open Market Committee meeting? “The real issue right now is taking a look at the fundamentals that have been in play in the market that have been moving the [gold] market lower,” he says. “You cannot look at the gold market without looking at the dollar.” This week’s analysis focused on gold’s relation to the U.S. dollar index, and analyzes critical levels for the metals. Gary says he will look at “what happens if [gold] breaks below that key support level, and what happens if it holds.” Kitco News, March 13, 2015.
Gary Wagner joins Kitco News’ Daniela Cambone ahead of the U.S. jobs data, which has had the marketplace on edge since the beginning of the week. Gary says gold has weathered a correction from the top of roughly $1,308/oz last month. “I’m still optimistic in terms of looking for higher pricing,” he adds. Looking at seasonal trends, Gary says he often sees a bump in gold prices at the beginning of the year, which he calls the “January Effect.” “I have research that shows out of the last five years, if you have purchased gold at the beginning of January – except for 2013 – you would have had a profitable trade,” he says. Tune in now for more insights on this latest edition of Chart This! Kitco News, February 6, 2015.
Gary Wagner is on Kitco News ahead of Friday’s U.S. GDP data. Before getting his growth projections, Daniela Cambone asks Gary what he thought of gold’s reaction to Wednesday’s FOMC statement. He says the Fed gave off a very bullish sentiment on the economy and he was happy to see a move back up on Thursday’s trading activity. For GDP, he expects growth numbers to come in according to analysts forecasts of 3-3.6%. “My sentiment is that as long as GDP numbers come in close to the estimates then we should see a lot of that already factored into the market,” he adds. Now that gold has breached Gary’s key level of $1,265 he is now eyeing the $1,238 an ounce level. Tune in now to hear his key levels for the gold market and how he sees the metal set up for next week. Kitco News, January 29,...
It’s Friday and Gary Wagner is back on Kitco News to make sense of all the ‘drama’ that has happened this past week in the market. Gold hit a high of $1,307 an ounce Thursday and Wagner says, on a technical basis, there is a “defining trend that this market has moved up.” He adds that the gold market is in unusual territory right now with it moving higher in tandem with the U.S. dollar and U.S. equity markets. Looking to next week’s Federal Reserve monetary policy meeting, Wagner says that there could be a surprise but he’s “not convinced that we require, in the United States, the same type of drastic reaction as we’ve seen in Europe.” Get his in most recent in-depth analysis of the gold market here on “Chart This!” Kitco News, January 22, 2015.