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July 17, 2015 - 11:42am

Kitco News - As gold continues its weak trend and tests lows last seen in 2014, one market veteran says the yellow metal may be poised for further losses. 'The real issue has been a return in strength in the dollar,' Gary Wagner, editor of thegoldforecast.com, told Kitco News. He compared gold to a salmon swimming upstream, struggling to maintain gains as the dollar index pressures the metal. Gold prices reached a low of $1,140.60 on Thursday, which Wagner says is a critical level to watch. 'That’s the lowest low that we’ve had in 2015,' he said. If the $1,131 level does not hold, Wagner said 'we could see some real downside pressure in gold, possibly taking it as low as $1,080-1,090.' Looking at silver, Wagner said his key level for the white metal stands at $14.50 an ounce. The...

July 2, 2015 - 4:22pm

Published on Jul 2, 2015 · Chart This is back and Gary Wagner joins Kitco News at the new studio to talk about gold and silver. Can the metals break their range? Wagner comments on gold’s reaction to Thursday’s weaker-than-expected nonfarm payrolls data and says the metal is acting ‘tepid at best’ right now. With the uncertainty in Europe and the weaker U.S. data, gold should be performing better as a safe-haven asset, but instead hit a 3.5 month low on Thursday morning. Wagner says the weaker data may now delay the U.S. Federal Reserve’s first move on rates. Tune in now for more from thegoldforecast.com’s Gary Wagner. Kitco News, July 2, 2015.

June 4, 2015 - 11:28am

Gold prices remain under pressure, but it's a different story than last week as a weaker U.S. dollar is not lifting the yellow metal. Looking at gold and the USD retracement this week, Gary Wagner notes that it's interesting that the lower U.S. currency isn't taking gold out of its downward spiral. Focusing on Friday's nonfarm payrolls data, Wagner says with the stock market hitting highs, investors are holding back to see if there's any kind of pullback, which he says would give way to some safe-haven buying in the precious metals. As for the jobs numbers themselves, Wagner thinks there will be more positivity for the U.S. economy. Tune in now to see what Gary's eyeing on the charts on this week’s edition of Chart This! Kitco News, June 4, 2015.

May 22, 2015 - 10:27am

Gary Wagner leads Kitco News into the long weekend with his latest thoughts on the gold market as well as the resurgence seen in the U.S. dollar. Talking on gold’s price action, Gary notes that the metal is now within the $1,182-1,221 trading range. “The fact that we’ve moved back in the range is foreboding because it seems easier to move down from here…especially with the dollar rebounding again,” he says. Tune in now to see what key levels are catching Gary’s attention and how he sees the metal set up for the short week ahead. Kitco News, May 22, 2015. 

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...