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.
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.
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,...
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.
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...
Kitco News ends the week with Gary Wagner as he looks at how gold is setup ahead of December’s nonfarm payroll report. Last time Gary was on the show, he highlighted key levels for gold ranging from $1,180 to $1,254. Have his levels since changed? Tune in now to find out what the charts are telling him about the gold market for 2015. Kitco News, January 9, 2014.
Gold Forecast for 2015. Both Part I and Part II can be viewed from this page.
We look at 2 models. Part 1: The first model focuses on the most recent rally in gold and the fact that prices were unable to breach or rise above the previous high of 1254. This pointing to a counter trend with the bear market intact. We will look at potential lows. Part 2: The second of these two models looks at the most recent oscillation in gold prices as a beginning of some sort of a compression triangle. If this is the model we see unfolding we will see gold break to the upside after coming to the apex of the triangle. Published on Dec 19, 2014
After a month-long hiatus, Gary Wagner is back on Kitco News to talk about gold ahead of the nonfarm payrolls data. Wagner talks about the recent volatility in the gold market and shares his thoughts on whether or not the market is being driven by fundamentals. "We've had a small rally, which I think was technically based," he says. "We now have a higher low, we do not yet have a higher high though." Wagner also talks about his new commentary on Kitco called Hawaii Six-O, which is posted every day at 6PM eastern time. Tune in now to hear his in-depth analysis of the gold market as we approach the end of the year. Kitco News, December 5, 2014.
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