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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.

July 12, 2018 - 11:49am

Gold has not been acting like a proper safe haven due to the fact that a full-blown trade war has not yet been triggered, but this may change once tariffs are implemented, said Gary Wagner, editor of theGoldForecast.com.

“We are in a trade dispute, we haven’t morphed into a full-blown trade war. Once tariffs are actually imposed, that will be a different story, and we might see some fireworks at that point,” Wagner told Kitco News.

Wagner noted that should gold fall below $1,240 an ounce, a level $30 lower should be expected.

January 30, 2018 - 6:11pm

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. 

August 25, 2017 - 4:24pm

Gold prices spiked Friday as all eyes were on Fed chair Janet Yellen and European Central Bank president Mario Draghi’s speeches at this year’s Jackson Hole symposium in Wyoming. The metal traded in the green, last at $1,295.90 an ounce. However, one gold expert is still waiting for the metal to close above key resistance before he becomes ultra-bullish. ‘I’d feel more comfortably bullish when we have effective closes above 1300,’ Gary Wagner, editor of thegoldforecast.com, told Kitco News during Draghi’s remarks. ‘We’ve certainly tested the waters, now we simply need to see the market have the momentum to close above that. Once that happens, I absolutely believe we’re headed substantially higher.’ Commenting on the central bankers’ meeting, Wagner said he didn’t make much of Yellen’s...

August 16, 2017 - 4:31pm

Gold prices managed to move into positive territory Wednesday afternoon following the U.S. Federal Reserve's July meeting, which had a dovish tone. December gold rose $3.20 to settle at $1,282.90 an ounce. The rally comes after the metal came close to hitting the key psychological level of $1,300 last. ‘The minutes were extremely dovish...

it now seems highly unlikely we will see a rate hike this year,’ Gary Wagner, editor of The Gold Forecast, said in an interview with Kitco News. ‘The Fed minutes are more of a long-standing market mover, it is not just a flash-in-pan and we should see gold stabilize,’...