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August 20, 2015 - 3:39pm

As gold prices glitter Thursday, the day after the release of the Fed’s July meeting minutes, Gary Wagner tells Kitco News the technicals are faring well. “We’re at a critical point -- roughly the $1,150-1,155 area — and a break and a close above this area, really signals something significant,” he says. “We could actually see this market trade as high as $1,170 before correcting,” he adds. Looking at the fundamentals, Gary says that gold is garnering support from weaker equity markets as well as uncertainty in the global economy. “And that, of course, is affecting the Fed decision on when they will pull the trigger on rates,” he notes. Based on the charts, Gary says if gold can break through some key Fibonacci retracement levels, the metal may be headed above $1,300 an ounce. “If we...

August 13, 2015 - 11:20am

As gold corrects from gains seen earlier in the week, technical analysts and star of Kitco News’ Chart This Gary Wager says he is enthused about the gold market. “I’m excited about what we’ll see over the next month or so,” he told Kitco News Thursday. As of 10:06 a.m. EDT, December gold was down $7 to $1,116.60 an ounce after it previously closed higher for five business days in a row. When asked if gold can see continued strength, Wagner said the outcome will be heavily fixed on the next move by the Chinese government. Earlier in the week, the People’s Bank of China devalued the yuan to help the country’s flagging economy. “If we see an extended intervention by the central bank in China, we could sees an extended and prolonged rally in gold and U.S. debt instruments,” he explained....

July 24, 2015 - 1:39pm

Not only did gold selloff early in the week, but gold futures saw the longest run of losses since 1996. Could the metal be due for a technical bounce? Kitco News speaks with Gary Wagner to find out what levels he is looking at for the metal next week as gold options expire and the markets await for the results of the latest FOMC meeting next week. "At this point, we could see a little bounce, but I am expecting more downside pressure [for gold],” he says. The key level that he is looking at for the yellow metal right now stands at around $1,038 an ounce. Wagner adds that any breach of the $1,085 level could lead gold towards lows last seen in February 2010. Tune in now to the latest edition of “Chart This!” Kitco News, July 24, 2015.

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.