Kitco News, Released on 10/21/24

How will gold trade after the U.S. election? Gary Wagner, editor of The Gold Forecast, shares his technical and historical perspective on what various election result scenarios could mean for gold. Drawing on data from past election years, Wagner tells Jeremy Szafron, Anchor at Kitco News, how gold typically reacts between Election Day and Inauguration Day, from the Reagan administration to Biden. He offers insights on how gold will trade if Trump or Harris wins. Wagner discusses the implications of a contested election versus a clear sweep on gold’s trajectory, stressing that heightened uncertainty could spark a parabolic move to his target of $2,865. With the Fed also expected to cut rates this week, Wagner shares his gold price outlook and identifies key technical levels to watch, noting that a pullback to $2,600 could represent a buying opportunity in today’s volatile environment.

00:00 Introduction: U.S. Election 2024
01:31 Historical Gold Performance During Elections
03:54 Hypotheticals: Election Outcomes and Gold
07:56 Geopolitical Tensions
12:24 Watching the Fed
14:21 Gold Price Predictions and Technical Analysis

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.

  gary wagner, gold, investing, us election