| The Gold Forecast

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May 14, 2015 - 2:37pm

As gold prices build on Wednesday’s sharp rise, Gary Wagner checks in on this edition of Chart This! to see if there’s any substance for a sustained gold price rally. Without question, Wagner believes that gold must close above $1,200 Friday for there to be any hope of a sustained rally. He adds that while gold price fluctuations are linked to U.S. economic data performance, he adds that there is also a currency-based aspect involved. “[W]e pair gold against currencies and we’ve seen that the tremendous rise in the dollar put so much pressure on gold – now we’re seeing the dollar falling,” he says. “I think the big story here right now is the euro/dollar because [it's] been so excessively strong. We need to see if it can keep that.” Tune in now to see what the charts are telling Gary...

April 24, 2015 - 12:39pm

It’s Friday and that means Gary Wagner is on Kitco News to talk about what key levels he is looking at for the gold market. Alluding to the last "Chart This!" episode, Gary says he was looking for gold to breach $1,221 in order for him to become bullish on the market. “I said even in a bearish market we should see a bounce, and it wouldn’t surprise me to see the market to go to $1,221,” he says. However, Gary now says gold’s key resistance level now stands at the $1,200 mark. Gary also takes an in-depth look at the U.S. dollar as well as record hitting equities markets to see how they are affecting the gold market. Tune in now to see what support and resistance levels are catching Gary’s eye. Kitco News, April 24, 2015.

April 10, 2015 - 12:00pm

After an almost 3-week hiatus, Gary Wagner is back on Kitco News to tell us how he sees the market set up for the coming week. He says given gold’s recent volatility, he wouldn’t be surprised to see the market drift lower. “I really have to see $1,221 as a number taken out before I can really get bullish again on this market,” he says. Gary also comments on recent dollar volatility and how he sees that spilling into gold and other commodity markets. Tune in now for Gary’s latest in-depth look into the gold market and to get his forecasts for the week. Kitco News, April 10, 2015.

March 20, 2015 - 2:33pm

Gary Wagner joins Kitco News after this action-packed week to share his latest thoughts on the gold market. Wednesday’s FOMC policy meeting caused a stir in the gold market, which is now looking like it may close off the week on a positive note. Wagner says that although it is an extremely oversold market, he wouldn’t be amazed to see gold head higher. “I wouldn’t be surprised to see the market bounce, even as high as $1,220 an ounce.” He says that despite the dollar’s drop on Wednesday, which he says was the greatest drop since 2009, he still sees the currency heading higher. “I’ve never seen that kind of a move,” he says. “The dollar will probably continue on its upward track.” Kitco News, March 20, 2015.

March 13, 2015 - 5:34pm

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.

February 20, 2015 - 3:21pm
Published on Feb 20, 2015
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February 6, 2015 - 11:57am

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.

January 30, 2015 - 10:59am

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,...

January 23, 2015 - 12:35pm

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.

January 16, 2015 - 9:19am

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...