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.
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.
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.
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.