| The Gold Forecast

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September 9, 2020 - 11:35am

Equities markets have seen some strong selling activity in the last week due to lingering uncertainties in the economy, said Gary Wagner, editor of TheGoldForecast.com, who is concerned about gold and silver potentially not holding their base at current levels. 

“We are seeing a recovery, but the recovery is much slower than anticipated,” Wagner told Kitco News in an interview Tuesday. “I think what we’re seeing is the realization that the economy is not going to recover as quick as we thought it would.”

Stocks are rebounding Wednesday morning from Tuesday’s selloff, with the S&P 500 up 1.15%, and the Dow up 0.9% on market open.

Tesla shares are down 30% from August highs.

August 24, 2020 - 12:45pm

The annual Jackson Hole Symposium, a gathering of central bankers, economists, and financial institutions, will see its first ever virtual conference this week, and will likely set the tone for further U.S. dollar depreciation, said Gary Wagner, editor of TheGoldForecast.com.
 
“When you’ve got all of the major central banks getting together, they recognize the need for a long-term plan rather than what's the economy going to look like next year, they're actually looking out at the next decade. What that tells me is that they know that the crisis we're in is not going to be resolved overnight and so that's what's so critically important," Wagner told Kitco News. “I believe that it could have a detrimental effect on the U.S. dollar. If it does, we will see gold take off and...

August 12, 2020 - 6:40pm

Gold prices saw their worst daily drop since 2013 on Tuesday. This sharp pullback was due to profit taking and did not detract from the long-term bullish picture, said Gary Wagner, editor of TheGoldForecast.com. “Personally, I do not believe it’s the end of a bull rally. We have entered some sort of a correction. The question I’m asking myself and the technical studies I’m looking at for the answers is whether or not this will be a shallow or short correction, or an extended correction,” Wagner told Kitco News Wednesday. __________________________________________________________________ Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people...

July 23, 2020 - 4:27pm

Silver investors and traders have been buying the white metal with a frenzy, with price growth outpacing that of gold, and the gold-silver ratio narrowing as a result.
 
A large driving force behind recent momentum is the resurgence of generalist investor interest in the sector, said Gary Wagner, editor of TheGoldForecast.com.
 
“The reason I believe that might have happened is one, there’s talk of scarcity, but two, the millennials, people that have put money into the U.S. equity markets that are in their thirties and forties, realize they need a safe haven asset in case there is a bubble,” Wagner said.

Wagner Financial Group has been working with Kitco Media for 12 years.

Gary Wagner writes a daily article for Kitco Media called...

June 11, 2020 - 2:58pm

Gold prices could be expected to surpass the $1,800 an ounce mark by third or fourth quarter of this year, with near term signals remaining bullish, this according to Gary Wagner, editor of TheGoldForecast.com.
 
Wagner’s comments come as the Federal Reserve announced Wednesday to keep rates near zero until at least 2022, and a second wave of the virus has just been reported to begin sweeping across the U.S.



December 17, 2019 - 2:52pm

Gold prices may have bottomed, and it’s only a matter of time before the next leg-up in prices take effect, this according to Gary Wagner, editor of TheGoldForecast.com.

“This is an extremely, extremely good year for the price of gold,” Wagner told Kitco News. “That being said, I believe right now we have been forming a base, roughly around $1,450.”
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Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.

October 14, 2019 - 4:18pm

Gold prices should be targeting as high as $1,650 to $1,700 an ounce by the first quarter of next year, but fundamental events need to be pushing the yellow in the right direction, this according to Gary Wagner, editor of thegoldforecast.com. “A lot of it has to do with fundamental events and the biggest one of course is whether or not they resolved the trade war, but if they continue to have the issues they’ve been having, I see gold moving substantially higher,” Wagner told Kitco News. ________________________________________________________________

Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment...

May 15, 2019 - 3:32pm

As the trade war between the U.S. and China escalates, all eyes are on how the economy will respond, and one expert said that gold will come out as a beneficiary.

Gary Wagner, editor of TheGoldForecast.com, said that as the U.S. prepares to enact 25% tariffs on $200 billion worth of Chinese goods, gold could rally in the long-term due to the tariff’ inflationary impacts.

“You have to look at what the tariffs will do in terms of consumer prices down the road. These tariffs are put onto the companies that are using those imports. However, they’re going to pass the additional costs back to the consumer,” Wagner told Kitco News. “So that means that the American consumer is going to be paying more, that would be inflationary, it would also set into motion the potential for a...

March 25, 2019 - 12:48am

KITCO NEWS

Published on Mar 24, 2019

Gold should benefit on the back of weakening equities, and should the next resistance level be broken, $1,374 an ounce should be the next target, this according to Gary Wagner, editor of TheGoldForecast.com. “My current target is $1,374 [an ounce] and that is based upon a Fibonacci extension of the last rally,” Wagner told Kitco News.
 

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August 17, 2018 - 4:08pm

Gold has a hit a “critical” area of $1,178 an ounce due to technical factors, said Gary Wagner, editor of TheGoldForecast.com.

“If it breaks below that, I think it will go to $1,124, and if it holds in this area, our next resistance point is going to be back at $1,200,” Wagner told Kitco News.

Wagner noted that gold is not yet at a bottom and its direction from this current critical level is mainly dependent on the strength of the dollar. Importantly, gold’s relationship to the dollar is most sensitive on the yellow metal’s downside.

“If the dollar begins to weaken, we will see gold recover, but it’s not going to be the other way around,” he said.