Gold Drops Below $4,000: The Interview Reveal's the current Support Levels

Submitted by Gary S. Wagner on Monday, July 20, 2026 - 20:10.

Jul 17, 2026 - Gold dropped below $4,000 for the first time in months. Kitco technical analyst Gary Wagner breaks down where gold's new support levels sit, why this has become a Federal Reserve and interest-rate story more than a geopolitical one, and the two lines that decide gold's next move.

Kitco News anchor Jeremy Szafron speaks with Gary Wagner of The Gold Forecast about gold's break below $4,000, his revised downside support near $3,900, the $4,200 level that would flip the chart back to the bulls, why silver is falling faster than gold, whether a rate hike is now more likely than a rate cut, and if the multi-year gold bull market is rolling over or simply correcting.

This interview was recorded on July 16, 2026.

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0:00 Gold Back At $4,000

0:38 Did The $4,000 Floor Break?

2:32 Gold's Key Support Levels

5:25 The Fed: Rates vs Inflation

10:45 A Bounce, Or A Real Recovery?

12:37 Silver Leads The Move Lower

15:30 The $6,000 Gold Target Revisited

17:07 Bull Market: Pullback Or Rollover? 21:54 Summer Trading Seasonality

23:11 Wrap Up: The Key Lines To Watch