Gold's Next Price Target is US$2,700, Can Silver Catch Up?
Gary Wagner of @Thegoldforecast shares his outlook for gold, using technical analysis to explain how the yellow metal could rise to the US$2,700 per ounce level by the first quarter of 2025. This interview was filmed on August 22, 2024
He also discusses the US Federal Reserve's upcoming interest rate turnaround and what it means for gold. "To me what is most important is not that they're signaling a rate cut in September — it's much more than that," Wagner said. "They are signaling a major pivot from a highly restrictive to a highly accommodative monetary policy that's end goal is interest rate normalization."
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0:00 - Intro
0:34 - Gold starting major rally
3:57 - Rate cut impact for gold
7:22 - Fed now shifting focus
11:23 - Gold sentiment in the west
14:47 - US$2,700 gold price target
21:23 - When to buy gold?
25:37 - Silver price outlook
29:18 - A historic time for gold
33:55 - Outro