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Stansberry Research: Is Gold Headed Above $2,000 and Will Silver Explode in 2021? with Daniela Cambone
Has the gold price seen its lows for the year? Gold futures finished higher on Monday, with prices for the safe haven getting a boost from progress toward another coronavirus aid package. Our Daniela Cambone speaks with expert chartist Gary Wagner about gold's long-term horizon. The Gold Forecast founder also shares his thoughts on silver and whether 2021 will finally be the break-out year for the metal.
This interview was filmed earlier this week with our good friends at silver bullion TV.
The Interview was hosted by Patrick Vierira who originates from Honolulu Hawaii and now resides in Singapore. The interview will cover our current take on the how gold and silver will react now that a viable and highly effective vaccine has been created. We will also address the use of Fibonacci retracement's and what other technical indicators work well with them. Most importantly we will define a combination of candlestick patterns and Fibonacci retracement theory to look for various pivot points or key reversal areas.
We are joined on Metal Money by Gary Wagner, CEO of TheGoldForecast.com. Find out how gold and silver prices are affected by vaccine release news and...
The 100-day and 50-day moving averages for gold have just crossed following months of a consistent differential, and this pattern is indicative of a "sharp drop" down in the gold price, said Gary Wagner, editor of the GoldForecast.com.
Equities markets have seen some strong selling activity in the last week due to lingering uncertainties in the economy, said Gary Wagner, editor of TheGoldForecast.com, who is concerned about gold and silver potentially not holding their base at current levels.
“We are seeing a recovery, but the recovery is much slower than anticipated,” Wagner told Kitco News in an interview Tuesday. “I think what we’re seeing is the realization that the economy is not going to recover as quick as we thought it would.”
Stocks are rebounding Wednesday morning from Tuesday’s selloff, with the S&P 500 up 1.15%, and the Dow up 0.9% on market open.
Tesla shares are down 30% from August highs.
The annual Jackson Hole Symposium, a gathering of central bankers, economists, and financial institutions, will see its first ever virtual conference this week, and will likely set the tone for further U.S. dollar depreciation, said Gary Wagner, editor of TheGoldForecast.com.
“When you’ve got all of the major central banks getting together, they recognize the need for a long-term plan rather than what's the economy going to look like next year, they're actually looking out at the next decade. What that tells me is that they know that the crisis we're in is not going to be resolved overnight and so that's what's so critically important," Wagner told Kitco News. “I believe that it could have a detrimental effect on the U.S. dollar. If it does, we will see gold take off and...
Gold prices saw their worst daily drop since 2013 on Tuesday. This sharp pullback was due to profit taking and did not detract from the long-term bullish picture, said Gary Wagner, editor of TheGoldForecast.com. “Personally, I do not believe it’s the end of a bull rally. We have entered some sort of a correction. The question I’m asking myself and the technical studies I’m looking at for the answers is whether or not this will be a shallow or short correction, or an extended correction,” Wagner told Kitco News Wednesday. __________________________________________________________________ Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people...
Silver investors and traders have been buying the white metal with a frenzy, with price growth outpacing that of gold, and the gold-silver ratio narrowing as a result.
A large driving force behind recent momentum is the resurgence of generalist investor interest in the sector, said Gary Wagner, editor of TheGoldForecast.com.
“The reason I believe that might have happened is one, there’s talk of scarcity, but two, the millennials, people that have put money into the U.S. equity markets that are in their thirties and forties, realize they need a safe haven asset in case there is a bubble,” Wagner said.
Wagner Financial Group has been working with Kitco Media for 12 years.
Gary Wagner writes a daily article for Kitco Media called...
Gold prices could be expected to surpass the $1,800 an ounce mark by third or fourth quarter of this year, with near term signals remaining bullish, this according to Gary Wagner, editor of TheGoldForecast.com.
Wagner’s comments come as the Federal Reserve announced Wednesday to keep rates near zero until at least 2022, and a second wave of the virus has just been reported to begin sweeping across the U.S.
Gold prices may have bottomed, and it’s only a matter of time before the next leg-up in prices take effect, this according to Gary Wagner, editor of TheGoldForecast.com.
“This is an extremely, extremely good year for the price of gold,” Wagner told Kitco News. “That being said, I believe right now we have been forming a base, roughly around $1,450.”
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Gold prices should be targeting as high as $1,650 to $1,700 an ounce by the first quarter of next year, but fundamental events need to be pushing the yellow in the right direction, this according to Gary Wagner, editor of thegoldforecast.com. “A lot of it has to do with fundamental events and the biggest one of course is whether or not they resolved the trade war, but if they continue to have the issues they’ve been having, I see gold moving substantially higher,” Wagner told Kitco News. ________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment...