Silver Smashes Records, Hits $62: Gary Wagner Targets $68 by Q1 2026

The Federal Reserve has cut rates by 25 basis points and confirmed $40 billion per month in reserve management purchases, sending fresh liquidity into the system. As the announcement hit the market, silver went parabolic, breaking into new all-time highs above $62, while gold continued to consolidate firmly above $4,200. 

Gary Wagner of TheGoldForecast.com joins Kitco News Anchor Jeremy Szafron to map the next phase of this historic metals rally.

Wagner explains how silver’s breakout above $54 triggered the surge to $59 and why the post-Fed jump through $61 and $62 puts the market into true price discovery. He also addresses the divided tone inside the FOMC, noting that three officials dissented on today’s cut even as the Fed moved ahead with its $40B liquidity program. 

Wagner highlights gold’s “critical” consolidation band around $4,200, the break point at $4,195, and his short-term targets, including silver at $65 to $68 in Q1 2026, as liquidity and dollar weakness reshape the trend. 

IN THIS INTERVIEW • How Fed liquidity helped drive silver above $62 • Gold’s consolidation at $4,200 and the key level to watch • Why Wagner sees silver momentum carrying into Q1 • Silver target range of $65 to $68 
 

00:52 - Market Reaction to FOMC Rate Cut and $40B Liquidity Boost

01:39 - Gary Wagner on Silver’s Phenomenal Rise Above $60

03:42 - Technical Analysis: Silver’s Parabolic Breakout

06:35 - Gold Market Insights and Consolidation Above $4,200

09:25 - Gold Correction Risks and the $4,195 Break Level

12:48 - How Silver Corrections Unfold in Fast Markets

17:03 - Broader Market Conditions and Outlook for 2026 

Recorded December 10, 2025