Video News/Chart This with Gary Wagner

Gary Wagner says recent volatility in silver reflects a mechanical shakeout rather than a true breakdown, even as gold continues to hold its broader structure. Speaking with Kitco News Anchor Jeremy Szafron, Wagner pointed to the Bloomberg Commodity Index rebalancing as the driver behind what he described as a five day “mechanical shakeout.” He argued that despite sharp moves, the market has not seen a “true” technical correction of 23% or more in months, calling the current pullback a “tiny dip” within a powerful bull trend. Wagner warned traders betting against the move that shorting here is like “standing on a train track with a train barreling down at 80mph.” Wagner outlined the key chart levels that will decide the next move. He identified silver’s “line in the sand” near $71 as critical support this week, while gold’s resilience keeps the longer term structure intact. Looking ahead, Wagner said that hitting $5,000 gold in 2026 is now a “walk in the park” if the broader trend remains unbroken.