Kitco News, Released on 9/30/24

Jeremy Szafron, Anchor at Kitco News, interviews Gary Wagner about the current gold market. Wagner discusses how gold remains bullish even after an expected short-term correction, with prices currently positioned above critical support levels. He highlights the importance of technical indicators, pointing out that key support at $2,610 could provide an ideal entry point for traders. Wagner also addresses the possibility of a price dip to $2,590 before a subsequent upward movement, offering insights into the factors driving gold’s price dynamics. He emphasizes that traders should remain attentive to economic conditions, especially in light of potential Federal Reserve rate cuts, which could significantly influence the market.

00:00 Introduction
02:15 Gold Price Movements and Predictions
05:00 Technical Analysis and Chart Insights
08:45 Profit-Taking and Market Corrections
12:30 Elliott Wave Analysis
15:00 Impact of Dollar Strength on Gold
17:00 Federal Reserve Rate Cuts and Market Impact
18:20 Conclusion

Gary Wagner has been a technical market analyst for 25 years. A frequent contributor to STOCKS & COMMODITIES Magazine, he has also written for Futures Magazine as well as Barrons. He is the executive producer of “The Gold Forecast,” a daily video newsletter. He has been a speaker for financial seminars including Futures West and the Dow Jones Financial Symposium which travels throughout the world.. Coauthor of “Trading Applications Of Japanese Candlestick Charting” a John Wiley publication.

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