After having previously alerted us to a likely strong upside breakout in gold based on the charting methods illustrated for us thus far, Gary Wagner of TheGoldForecast.com takes a look back at what enabled us to predict this breakout, and gives us another tutorial on charting and stomaching the corrections in particular. Wagner also provides us his thoughts on the current markets, and why silver will likely outperform gold, despite the fact that it comes under more pressure and takes bigger hits when things go south. Tutorial begins @ 03:40 Kitco News, August 29, 2012.
The government shutdown is over, economic reports are back on track and Gary Wagner is on Kitco News to tell Daniela Cambone what this means for gold. "[The U.S. government] hasn't solved anything and that means uncertainty," Gary says. "Uncertainty of course is a bullish factor for gold." During the government shutdown, all government reports were postponed but now that it is over, the much-anticipated jobs numbers will be released Tuesday morning. "I wouldn't even fathom to guess what the outcome might be from that," Gary says. "It's going to be an interesting week." Tune in now to hear his key... Read more
Kitco News speaks with Gary Wagner about last week's gold prices and what movements he expects to see this coming week. The marketplace is waiting for the October 17th deadline to see whether or not the US Government will default on its debt. Will the debt ceiling deadline be extended? Wagner also touches upon the recent announcement that Janet Yellen will be replacing Ben Bernanke as Federal Reserve Chairman, the first woman to ever hold the position. "The fact that Yellen was nominated is bullish for gold in the sense she is considered one of the more dovish members of the board," Wagner says. "... Read more
Gary Wagner shares his thoughts on gold this week given that the ECB meets on Thursday and the U.S. jobs reports for October will be released on Friday. Wagner says that he expects further downside pressure for gold unless fundamentals change or at least the way people interpret the fundamentals. "My sense is that jobs aren't going to look great. The jobs report I think will come in weak and I think that we'll see increased volatility." Wagner also comments on stocks, PGMs and key Fibonacci retracements levels for gold. "If we can hold $1,300, we really have to take $1,331-$1,335 before I can really... Read more