Gold’s ‘Bullish Setup’ Explained: Here's What the Charts Are Saying Now

Submitted by Gary S. Wagner on Tuesday, September 17, 2024 - 19:27.

Jeremy Szafron, Anchor at Kitco News, interviewed Gary Wagner, Editor of thegoldforecast.com, as gold reached all-time highs near $2,600. Wagner provided in-depth technical analysis, highlighting how gold’s bullish momentum was confirmed by its positioning above key moving averages—50-day, 100-day, and 200-day—signaling potential for further gains. The interview covered the Federal Reserve's rate cut decision, which could drive gold even higher, with Wagner projecting gold could reach $2,625 to $2,650. Wagner also discussed key support and resistance levels, along with silver's underperformance compared to gold.

Recorded on September 16, 2024

00:00 - Introduction & Gold Hits All-Time High

01:25 - Gold’s Historic Move: $2,600 and Beyond

03:45 - Impact of the Federal Reserve’s Rate Decision

05:20 - Technical Indicators: Moving Averages and Gold’s Trend

07:35 - Short-Term Projections for Gold

09:15 - Fed Rate Cut Expectations and Gold Sensitivity

11:40 - Key Support and Resistance Levels for Gold

13:50 - RSI: Is Gold Overbought?

15:40 - Silver’s Lag Behind Gold

17:55 - Final Thoughts & Gold’s Future Outlook