What a week it’s been for the gold market and who better to makes sense of it all than Gary Wagner on this latest edition of “Chart This!” Just like most market participants, Wagner was just as shocked by the Swiss National Bank’s announcement on Thursday, which pushed gold prices to a 4-month high. “The news that came out was absolutely and utterly a surprise to everyone,” he says. “The captain turned the ship, in other words, the Swiss decided to decouple the Franc from the euro and that sent markets into a tizzy.”Wagner also comments on the correlation between the U.S. dollar and gold, and compares the yellow metal to a salmon swimming upstream. “Whenever you look at the dollar as it compares to gold…a tandem move simply means that gold has enough velocity to be able to overcome any...
Kitco News ends the week with Gary Wagner as he looks at how gold is setup ahead of December’s nonfarm payroll report. Last time Gary was on the show, he highlighted key levels for gold ranging from $1,180 to $1,254. Have his levels since changed? Tune in now to find out what the charts are telling him about the gold market for 2015. Kitco News, January 9, 2014.
Gold Forecast for 2015. Both Part I and Part II can be viewed from this page.
We look at 2 models. Part 1: The first model focuses on the most recent rally in gold and the fact that prices were unable to breach or rise above the previous high of 1254. This pointing to a counter trend with the bear market intact. We will look at potential lows. Part 2: The second of these two models looks at the most recent oscillation in gold prices as a beginning of some sort of a compression triangle. If this is the model we see unfolding we will see gold break to the upside after coming to the apex of the triangle. Published on Dec 19, 2014
After a month-long hiatus, Gary Wagner is back on Kitco News to talk about gold ahead of the nonfarm payrolls data. Wagner talks about the recent volatility in the gold market and shares his thoughts on whether or not the market is being driven by fundamentals. "We've had a small rally, which I think was technically based," he says. "We now have a higher low, we do not yet have a higher high though." Wagner also talks about his new commentary on Kitco called Hawaii Six-O, which is posted every day at 6PM eastern time. Tune in now to hear his in-depth analysis of the gold market as we approach the end of the year. Kitco News, December 5, 2014.
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