Gold Remains Bullish After Expected Short-Term Correction: Watch This in the Charts

Jeremy Szafron, Anchor at Kitco News, interviews Gary Wagner about the current gold market. Wagner discusses how gold remains bullish even after an expected short-term correction, with prices currently positioned above critical support levels. 

He highlights the importance of technical indicators, pointing out that key support at $2,610 could provide an ideal entry point for traders. Wagner also addresses the possibility of a price dip to $2,590 before a subsequent upward movement, offering insights into the factors driving gold’s price dynamics. 

He emphasizes that traders should remain attentive to economic conditions, especially in light of potential Federal Reserve rate cuts, which could significantly influence the market.  

00:00 Introduction 

02:15 Gold Price Movements and Predictions 

05:00 Technical Analysis and Chart Insights 

08:45 Profit-Taking and Market Corrections 

12:30 Elliott Wave Analysis 

15:00 Impact of Dollar Strength on Gold 

17:00 Federal Reserve Rate Cuts and Market Impact 

18:20 Conclusion