Gold Set for a Breakout on the Charts: June Jobs Report Could Be the Catalyst – Gary Wagner

Kitco News, Released on 7/1/24

Jeremy Szafron, Anchor at Kitco News, interviews technical analysis expert Gary Wagner about the current dynamics of the gold and silver markets. They discuss the impact of recent comments by Federal Reserve Chair Jerome Powell, the anticipated June jobs report, and crucial technical patterns. Wagner explains how key levels and patterns in gold, like the descending top and support at $2,300, could signal major moves, potentially pushing prices to $2,500. For silver, he highlights the significance of breaking above $32 and the potential for a surge up to $40.

00:00 – Introduction
01:28 – Impact of Fed Comments on Gold
03:25 – Analysis of the Upcoming Jobs Report
04:51 – Technical Patterns in Gold
06:47 – Key Support and Resistance Levels for Gold
09:28 – Potential Scenarios for Gold Movement
10:23 – Transition to Silver Analysis
10:53 – Silver’s Market Behavior and Historical Context
12:21 – Key Technical Indicators for Silver
14:17 – Future Predictions for Silver

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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