Kitco News and other media outlets (Archive) | The Gold Forecast

Kitco News and other media outlets (Archive)

January 5, 2014 - 6:53pm

Kitco News speaks with Gary Wagner about last week's gold prices and what movements he expects to see this coming week. The marketplace is waiting for the October 17th deadline to see whether or not the US Government will default on its debt. Will the debt ceiling deadline be extended? Wagner also touches upon the recent announcement that Janet Yellen will be replacing Ben Bernanke as Federal Reserve Chairman, the first woman to ever hold the position. "The fact that Yellen was nominated is bullish for gold in the sense she is considered one of the more dovish members of the board," Wagner says. "However, the day the nomination came out, gold was lower but over two thirds of that was directly attributed to dollar strength." Tune in now to hear Wagner's key support and resistance levels...

January 5, 2014 - 6:26pm

Gary Wagner shares his thoughts on gold this week given that the ECB meets on Thursday and the U.S. jobs reports for October will be released on Friday. Wagner says that he expects further downside pressure for gold unless fundamentals change or at least the way people interpret the fundamentals. "My sense is that jobs aren't going to look great. The jobs report I think will come in weak and I think that we'll see increased volatility." Wagner also comments on stocks, PGMs and key Fibonacci retracements levels for gold. "If we can hold $1,300, we really have to take $1,331-$1,335 before I can really get bullish again," he adds. Tune in now for Wagner's insights and analysis on the gold markets. Kitco News, November 4, 2013. Join the conversation @ The Kitco Forums and be part of the...

January 5, 2014 - 6:25pm

Gary Wagner discusses his next key levels for gold this week on Kitco News. According to Wagner, gold could react to Fed Chairman Bernanke's speech on Tuesday as well as jobs numbers due for release later this week. "My sense is that [the Fed] really can't begin to aggressively taper -- not this year -- and I'd be surprised if it was the first part of next year," he says. "I'm more under the belief that it's somewhere around March of next year when we would see tapering." Wagner also says to keep a look out for lighter trading volume this time of year given that many traders are out for the holidays. Tune in now to hear Wagner's latest forecasts for gold. Kitco News, November 18, 2013. Join the conversation @ The Kitco Forums and be part of the premier online community for precious...

January 5, 2014 - 6:23pm

Gary Wagner is on Kitco News to share part two of his 2014 gold outlook. "I do believe that through the end of the year, we could see lower pricing [for gold] and we could stay under $1,200," Wagner says. With regards to last week's Fed taper announcement, Wagner says what is interesting to note is the fact that they intend to maintain low interest rates. "Of course, low interest rates are a bearish scenario for the precious metals markets," he says. "I am looking for the market to bottom at $1,150-$1,181. If it cannot hold that area, $1,042 is the next stair we would logically look at." Watch now to hear which precious metal he expects to shine the most in 2014 and to hear his analysis on the equity market, gold market and quantitative easing. Kitco News, December 23, 2013.
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January 5, 2014 - 6:18pm

Continuing the Outlook 2014 series, Kitco News gets Gary Wagner's estimates for the yellow metal. Although gold has been struggling to gain momentum, Wagner says there are some signs of a potential bottom in the market. "In terms of Elliot wave[...]we are just finishing a 5th wave of a long move down," Wagner says. "Once that has concluded, according to Elliot wave theory, we're going to see a series of rallies." Overall, Wagner says the market is extremely oversold and the predominant mentality of traders has been bearish on gold. "Typically, you get bottoms in the market when it is really weighted in an extreme way to one side or another," Wagner says. "So, if everyone out there is really bearish, that tends to be the beginnings of any kind of a bull run," he adds. Wagner states that...

January 5, 2014 - 6:14pm

The Fed, US dollar, Europe and stocks are all on investors' minds and Gary Wagner is on Kitco News to discuss what this all means for gold prices. With regards to Wednesday's FOMC policy announcement, Wagner says he doesn't expect anything "mind-bending" to come out of the meeting. "It is widely touted at this point that tapering really cannot begin this year and probably won't begin until Q1 or Q2 of next year," he adds. When looking at the correlation between gold prices and equities, Wagner says something interesting is developing. "You typically do not see both gold and the equities markets running in the same direction," Wagner says. "What we're getting now is the perception that 'no tapering' is bullish for equities as well as being bullish for gold." Finally, Wagner talks about...