May 24, 2016 - 6:47pm

The 800,000-pound Godzilla in the room at the moment is the fear of a Federal Reserve interest rate hike, says long-time technical analyst Gary Wagner. ‘As of Friday, interest-rate futures were pricing in a 30% probability of an increase at the June 14-15 meeting, up from 5% several days earlier, according to the CME’s FedWatch Tool,’ explains Wagner, the editor of the popular newsletter, Traders are desperately seeking some clarity in regards to the Fed's next move, trying to determine gold's direction, he told Kitco News. ‘[T]he lack of fiscal policy by the U.S. Congress forces investors to rely far too heavily on monetary policy as a barometer. That is very wrong,’ Wagner warns. On Tuesday, gold futures hit a 4-week low as the dollar index hit a seven-week high...

April 11, 2016 - 9:19pm

With gold prices posting solid gains on Monday, long-time technical analyst Gary Wagner, says the metal has found its floor.

“When gold touched the levels of $1,040 -$1,045 an ounce earlier this year, those turned out to be the bottom and I think that will be the bottom,” the founder and editor of the said in an interview with Kitco News.

Both gold and silver hit nearly three-week highs on Monday. June Comex gold settled the day 1% higher at $1,258 an ounce while May Comex silver settled at $15.976 an ounce, up nearly 4% on the day.

The metals rallied as the U.S. dollar index dropped to an eight-month low following the perceived dovish rhetoric coming from U.S. Federal Reserve officials. Wagner added that major support for the yellow metal comes...

February 5, 2016 - 6:22am

Gold prices ended the U.S. day session solidly higher and hit a 3.5-month high Thursday. ‘The falling dollar is intriguing for the gold trade we are in, the price of crude, and for future potential upward movement of equities pricing,’ said Gary Wagner, editor of the popular newsletter, Silver prices also scored a 3.5-month high Thursday. Safe-haven and technical buying continue to support the yellow metal amid volatile world stock markets that presently still have a downside bias. April Comex gold was last up $15.30 at $1,156.60 an ounce. March Comex silver was last up $0.126 at $14.86 an ounce. ‘The modest rise in the yield of 10-year U.S. Treasuries would suggest that not all safe havens are created equal. Gold and silver seem to be exerting a strong...

January 15, 2016 - 5:31pm

Kitco News speaks with technical analyst Gary Wagner to see where he thinks gold will close for the week. After seeing its biggest one-day drop since December, the yellow metal moved higher Friday as U.S. equities were clobbered. Kitco News, January 15, 2016.

December 11, 2015 - 6:22pm

It’s all about the Fed next week, with the Federal Open Market Committee meeting concluding on December 16 and markets anticipating the first interest rate hike in nine years. What could happen to gold? According to longtime technical analysts Gary Wagner, the metal could see more downside pressure next week. ‘If we get liftoff as anticipated we could see further erosion in gold,’ he told Kitco News Friday afternoon. ‘I would really want to watch the key levels at $1,061, and $1,050,’ he added, stating that these have been the recent lows in gold. February comex gold futures saw some volatility early Friday when the metal rallied up to a high of $1,078.60 an ounce, but has now settled a few cents off that level. According to Wagner, the main thing investors should focus on next week is...