Kitco News, Released on 6/12/26

Gold futures tested the key $4,000 psychological level this week under intense selling pressure before catching a late Friday bid. Gary Wagner joins Jeremy Szafron, Senior Anchor of Kitco News, to break down the technical damage and explain why he sees a “60% to 70% probability” that gold has established a firm technical floor. Wagner outlines the critical resistance levels gold must break to save its broader bullish trend, noting that a return to record highs will be a “hard climb back up.” The analysis also covers silver’s resilience as it reclaims its 200-day moving average, outperforming gold during the recent drawdown. Plus, Wagner weighs in on how macro liquidity shifts – including the $75 billion SpaceX IPO and reports of a possible interim U.S.-Iran agreement around the Strait of Hormuz – are impacting the charts, and what the CME’s upcoming move to 24/7 trading for retail gold contracts means for technical weekend gaps.

00:00 – Gold Tests $4,000 & Market Macro Shifts
01:45 – The $4,000 Technical Floor & Support Levels
06:40 – $6,000 Elliott Wave Target & Resistance at $4,370
09:50 – Inflation Data & Fed Rate Hike Probabilities
11:50 – Silver Outperforms & Reclaims 200-Day Moving Average
21:20 – CME 24/7 Gold Futures Trading Impact
25:00 – Gary Wagner’s Technical Roadmap for Next Week

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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