Interviews

After rising for three straight sessions, gold came down $1.40 an ounce at $1,217.70 on Thursday. ‘Right now, we hit an intraday low this week at around $1,204 so to me there is some hope that $1,200 will hold as a support level," said Gary Wagner, editor of thegoldforecast.com.

The gold market saw additional selling pressure in late-afternoon trading Wednesday, following the early release of former FBI director James Comey’s testimony scheduled for Thursday. However, to technical analyst Gary Wagner, this knee-jerk reaction is a necessary correction in gold’s overall rally. ‘We might go into period of consolidation but overall I am bullish,’ he told Kitco News.

Gold prices continue to hold on to small gains after initial weekly U.S. jobless claims saw muted change, rising by 1,000 to a seasonally adjusted 234,000 in the week to Saturday, the government said. Gold was already showing some modest gains ahead of the report and was relatively unchanged in initial reaction. June Comex gold futures last traded at $1,257 an ounce, up 0.31% on the day.

Gold prices saw some volatility Friday, first moving higher as it caught a safe-haven bid following President Trump's missile strike on Syria and the release of weaker jobs data in the U.S. However, the yellow metal fell under pressure later in the trading session after hitting a five-month high overnight. Can gold's regain momentum and move higher next week?

Gold prices ended the U.S. day session moderately up and hit a four-week high following last week's uptick. New money is flowing into gold, said Gary Wagner, publisher of the goldforecast.com, on Monday.

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.