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June 7, 2017 - 4:05pm

The gold market saw additional selling pressure in late-afternoon trading Wednesday, following the early release of former FBI director James Comey’s testimony scheduled for Thursday. However, to technical analyst Gary Wagner, this knee-jerk reaction is a necessary correction in gold’s overall rally. ‘We might go into period of consolidation but overall I am bullish,’ he told Kitco News. ‘Gold challenged the $1,300 mark and I still think we can take that out this year.’

May 25, 2017 - 3:19pm

Gold prices continue to hold on to small gains after initial weekly U.S. jobless claims saw muted change, rising by 1,000 to a seasonally adjusted 234,000 in the week to Saturday, the government said. Gold was already showing some modest gains ahead of the report and was relatively unchanged in initial reaction. June Comex gold futures last traded at $1,257 an ounce, up 0.31% on the day. “Immediately following the release of the minutes, we saw U.S. equities moving modestly to higher ground. At the same time, we saw the U.S. dollar trading modestly lower and gold trading slightly higher,” Gary Wagner of thegoldforecast.com said. “These actions come about as a result of the Federal Reserve’s resolve to implement another interest rate hike in June. Based on the CME’s FedWatch tool, which...

April 7, 2017 - 3:18pm

Gold prices saw some volatility Friday, first moving higher as it caught a safe-haven bid following President Trump's missile strike on Syria and the release of weaker jobs data in the U.S. However, the yellow metal fell under pressure later in the trading session after hitting a five-month high overnight. Can gold's regain momentum and move higher next week?

March 27, 2017 - 3:58pm

Gold prices ended the U.S. day session moderately up and hit a four-week high following last week's uptick. New money is flowing into gold, said Gary Wagner, publisher of the goldforecast.com, on Monday. After the failure to push through a healthcare reform package on Friday, Wagner noted that it has raised questions over President Trump's ability to deliver promised tax cuts and spending plans. That knocked stocks and the dollar to a four-month low and gold is reaping the benefits, he told Kitco News. April Comex gold settled the day at $1,255.70, up 0.58% on the day. May Comex silver settled the day at $18.108 an ounce, up 2%. Wagner explained that the metal needs an effective close over $1,265 and then the next real resistance level will be $1,300. 

January 12, 2017 - 2:47pm

Gold prices are higher Thursday, hitting a six-week high, and have moved above the key psychological barrier at $1,200.00. “What is interesting is that we are now seeing some similarities between the beginning of 2016 and the beginning of 2017,”said  Gary Wagner, publisher of the goldforecast.com. “Gold prices had been under tremendous pressure throughout the 2015 calendar year, with prices culminating at a four-year low at 1050 per ounce. The low seen at the beginning of 2016 was the net result of a multi-year correction, which began after gold had reached its all-time record high of $1900 per ounce. The low that was achieved at the end of 2015 and the beginning of 2016 turned out to be the lowest price gold traded to since October 2009,” he explained. That same low would become the...