Gold Breaks 3-day Winning Streak; Can it Hold $1,200? - Gary Wagner

After rising for three straight sessions, gold came down $1.40 an ounce at $1,217.70 on Thursday. ‘Right now, we hit an intraday low this week at around $1,204 so to me there is some hope that $1,200 will hold as a support level," said Gary Wagner, editor of thegoldforecast.com. In the past three days, gold has had a higher intraday low than the previous trading session on each occasion, Wagner added. "Prices have also traded to a higher high than previous sessions, along with consecutively higher closes. However, during each of these trading days, the positive net change can be characterized as only a small upside move." (show less)

After rising for three straight sessions, gold came down $1.40 an ounce at $1,217.70 on Thursday. ‘Right now, we hit an intraday low this week at around $1,204 so to me there is some hope that $1,200 will hold as a support level," said Gary Wagner, editor of thegoldforecast.com. In the past three days, gold has had a higher intraday low than the previous trading session on each occasion, Wagner added. "Prices have also traded to a higher high than previous sessions, ... (read more)

 
 
Chart This!

Chart This!
A former city guy, Gary Wagner abandoned the briefcase & tie and joins us weekly from his home in Hawaii. Whether you are a newbie or veteran trader, Gary provides an educational segment for all levels of investors. Gary will teach you the ‘ins’ and ‘outs’ of mapping gold charts from using Japanese Heikin-Ashi charts to Elliott Wave analysis. Gary Wagner simplifies charting for investors every Friday on Chart This!

 

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.