Interviews

Gold prices are higher Thursday, hitting a six-week high, and have moved above the key psychological barrier at $1,200.00. “What is interesting is that we are now seeing some similarities between the beginning of 2016 and the beginning of 2017,”said  Gary Wagner, publisher of the goldforecast.com.

Gold sees a small bounce Monday, after hitting fresh ten-month lows overnight. So could the metal be setting itself up for a bigger move later in the week once the U.S. Federal Reserve meeting is out of the way?

We don’t know how this new President will act and what kind of environment we’ll live in,” Gary Wagner of thegoldforecast.com told Kitco News at the Silver & Gold Summit in San Francisco. For that reason, he expects exciting times ahead for the precious metals markets. “Gold can move either extremely higher or lower, I don’t think we’ll see a flat market next year.” 

With October jobs data in the rearview mirror, all focus has shifted to Tuesday’s U.S. election where the American public will finally decide who will be the next President. And, according to technical analyst Gary Wagner, gold investors will also be on the lookout, potentially holding the metal’s price above $1,300 an ounce.